This was posted by another shareholder from another forum.
CEO presented today
Made 1 interesting comment. Said the form of the ~ 300 million dollar shareholder friendly initiative was still undecided, but his crystal ball was telling him it would result in a reduction in share count.
$300 million buyback at these prices would be ~ 38 million shares.
Any long term investor (not trader) will not be happy with a stock buy back that offers less than they paid for the shares they own. My current cost basis is $9.30. Others probably have a higher basis. At current approximately $8 price, I wont sell my shares back. So reducing the number of shares isn't really going to help long term investors, only traders. Another management mistake to add to the list.