GFRE must buy back stock in order to be taken seriously
You are spot on the money and I agree with you completely. I own 6,750 shares so I am long this stock in case anybody thinks I am a short basher. With a firm commitment by mngmt to buyback $10 million of stock and not take advantage now of dirt cheap price seems strange and troubling. They say they need funds to expand production which makes good sense but to be able to buy back their stock at such low levels and not do it makes NO sense. I would like nothing else than for mngmt to explain why gsrmf and my thinking are wrong.
Companies have to meet inside trading rules like employees do. I am not sure if there are exact set dates, but many companies have rules like no trading two weeks before a quarter ends (see like Netflix rules as by that time employees would know what quarters results are likely to be) and then no trading until after the release. In such a case, GFRE has not had a time to purchase when their would be no blackout and the stock was below like $8 since they approved the buyback. We are coming up on their first chance as far as I can tell. If they do not buy back over the next month it will be very disappointing. But I think they will.
Business Insider says....... the repurchase during the time between the end of the quarter and when its results are reported, when such activities are normally halted. if you're suggesting that GFRE has its own rules restricting then it is just a guess, and i doubt it. on March 25 and 28 the stock traded at $5.50, that is less than $8?
they can only buyback one month out of three....The month Starts Friday.....Three months ago....the Price was much higher....I Know they got the message this Time!They said they WERE planning to...as long as it was LEGAL.....