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MOD-PAC CORP. Message Board

  • dtejd1997 dtejd1997 Aug 18, 2011 1:28 PM Flag

    Trading volume 8.18.11

    Hey all:

    What a weird day. The DJIA is down over 400 points and MPAC is up $.22/share.

    Well over 186k shares traded hands today. This is well over 10X normal trading volume. No apparent news is out there.

    I wonder if a large investor has sold a large portion back to the company under the stock buy back.

    Any thoughts?

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    • Hey, you were right, I would say!

      On August 3, 2011 (earnings release) they stated:

      "Under its current share repurchase program authorized in May 2011, the Company can purchase up to 200,000 shares. It has made no purchases under the current plan or in the first half of 2011."

      And today they announced an increase in the authorization to 200,000 shares again, because the previous program authorized in May had only 17,461 shares remaining...