A number of folks posted about how a stock buy back would benefit the company - and its share price - more than some of the actions taken by management/board. Now that the buy back has been announced, what's the general reaction? I haven't seen posts about the amount of the buy back (too small, too little too late) or projections for its effect.
It's probably just my crazy thinking, but it kinda smells when I see just a few shares being unloaded at 10 to 20 cents less than the last trade. Makes me think maybe someone is trying to make it look like this thing isn't headed any where.
I think the announcement was that they would buy back 4 million dollars worth of their own stock, that's around 10% of the company. Assuming it is purchased through the exchange and not private sales, based upon average trading volume, they are going to have to become a major buyer in the market for AT LEAST two months to get that amount purchased. I don't see how that isn't going to have major upward pressure on the stock price. If prices jump, they'll then be buying significantly less shares. With an upward price trend, i'm sure others will be jumping in too.