Whatever is going on here it looks illegal. It gives one the feeling that the stock is being manipulated to let all of the insiders cash out at predetermined prices. Why would you use your buyback program to purchase shares at top dollar. You normally would have buyers and sellers in a normal market. It just looks illegal. I do not know why some lawyers are not jumping gall over this.
Could someone out there who is smarter than me please explain to me? If all the insiders who know more about this company than anyone else is selling out like there is no tomorrow then who in their right mind would be purchasing a stock that even the insiders is signaling is overpriced. Investors purchase because they want a bargain. The only thing that makes sense is that the company (the primary purchaser) is using the share buyback program and the insiders are the primary sellers. In an efficient market should there not be other buyers and sellers. Something looks very illegal here.