they sold stk versus borrowing....with money so cheap!
Business school 101 for CFOs: if your P/E is 50, sell shares, because the market is stoopid and is overpricing you. If your P/E is 5, borrow and buy your shares back, because you are silly undervalued by the market.
Current P/E is 34 and some change....
Don't like the move. In my opinion, it shows that mgmt thinks the stock is topping out and they're taking advantage of the elevated price.
Hey Dwh I don't like it either. With money so cheap why? I don't see much up or down from this move but I was hoping to see $35. I'm changing from buy to hold.
My thoughts exactly. Maybe I'll try and sell some covered calls..