The stock repurchase program may have additional benefits to the share price. As large purchases are made, both the price & volume increase. When this happens, Buy Stop orders are triggered by short sellers, further increasing the price & volume. The following article shows a relatively large short interest, so it looks like the repurchase plan may be causing a mini short squeeze.
The stock of Apollo Global Management Llc (NYSE:APO) registered an increase of 20.23% in short interest. APO's total short interest was 7.04 million shares in February as published by FINRA.
Yeah. They're geniuses all right......buying shares with other people's money whilst selling their own shares....except for Bob Kraft.
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The shares they bought have made an awesome return in a very short time. I couldn't care less what the did with their own money. It has no impact on me, but the money they spent buying back shares has sure produced a nice return for the shareholders.