I think I would consider the dollar cost average short position over the last 12 months and understand that the assumed size of the buyback would not do too terribly much to sway short interest. It is also possible that they would just short from higher levels if the opportunity presents itself. Fundamentals will drive and maintain an upward PPS, not a buyback. IMHO!
Buyback is only a method to try to stabilize the dilution of shares by insiders stock grants. 6.3 million shares added last 9 months (we will see how much more they added Q4). Andrus and Alden have to get their "smoking bud" money somewhere. Their not proving their worth via stock price, so just keep giving themselves ridiculous stock grants. 28 million probably will get them through till this Fall then they will have to sell a zillion shares to pay for their new custom snowboards (they most certainly spend more time at the bar and slopes then promoting our business). I take that back - they clearly have established it is their business (so they believe based on owning 33% of the diluted shares and counting up up and away!!!!)
Heck the AA boy's (Andrus and Alden pun intended), will just pump another 4 - 6 million shares selling into the open market this year (they already have a 700,000 share head start in one month - and grant themselves say (hmmm 28 million / 6 = 4.5 million or so shares).
They clearly need to join AA as they must be drunk or high on something to believe they are that good of managers to deserve that kind of compensation.
They are complete egotistical idiots - WS has said it, the market has confirmed it.