Today's announcement is crazy. I think they are purposely trying to drive down the stock price. No Share Buy back, Building ships, Land in Hawai not very valuable and strawberry season sucks. Is Mursdock trying to steal this company from us by downplaying everything. How about selling the Health Spa Murdock. Dole is sitting on a goldmine of assets and he knows it. I am buying more and I bet he is also.
does seem #$%$. announcing all the bad news on one day. Suspending buyback. Strawberry sales down, buying ships.
Either they are trying to drive down stock price or they are fools.
Why couldn't they have slowed down or stopped share repurchases without announcing a suspension?
My understand of most buybacks is that the language specifies that the company though intending to buy back shares is NOT OBLIGATED TO BUY BACK shares.
If they are not doing this on purpose then they are fools IMO.