tlab pre announcing intentions to commence buyback shows continued stupidity
I would like it to a fidelity press releasing their intention to buy 20% of a particular stock prior to commencing accumulation. what #$%$s. The upshot is any interested private equity/activist investor will be forced to make a move near term. Buy em, take the cash, sell the IP , divest legacy biz & keep new technology products with expanding mkt's margins & mkt share.
Last I checked, TLAB was a publically traded company. I understand what you are trying to say but that is not the way it works. A major decission such as potentially buying $224M of stock back is something that has to be announced otherwise lawsuits can be filed. This is a materially significant decision and had to be made public. They can not even start buying until next week so the announcement tells Mr Market that they now have 4 trading days to determine if they want to buy or sell stock in TLABs. I certainly wouldn't be selling down here and I bet Jannus wishes they had waited before dumping all of their shares. I won't be surprised if the stock is trading above $3 by Friday because all of the bottom feeders who were looking to pick a bottom now know that the bottom was yesterday at $2.70. IMO the company is worth at least twice its cash or over $5 but apparently the market rather chase stocks like apple or google than look into deep value plays.
They already had an approved & announced buyback but were not buying...............listen to each of the past few cc's & u will hear them say, "we have bought no shares for the Q". Or u can go back & find the initial buyback anncmt that was not completed. Absolutely moronic to telegraph their intent to buy........ the cheaper the better for shareholders.more shares retired = greater eps given anti-dilutive!