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CAI International Inc. Message Board

  • metal.trader metal.trader Oct 28, 2011 3:09 PM Flag

    Company purchasing stock

    they have not even purchased a single share and the stock is up 50%, i see another 50% beofre the end of November due to the force of the buyback.

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    • The buyback was for up to 1 million shares, which is only about 5% of shares outstanding. Also, by SEC rules there weren't allowed to buy anything back during the blackout period - they had to wait until after Q3 earnings announcement. That being said, I still don't see any indication of buyback occuring. Eventually they are going to have to do something with their excess cash, it doesn't make sense to delever further.

 
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