Can anyone explain to me why they are buying back the stock (even though its cheap) and not using it to grow the business and make it turn a profit?
They are in a good position market wise - but I am trying to understand what management is doing - or if they are not up to par?
On January 20, 2012, Limelight Networks, Inc. (the "Company") issued a press release announcing that it will report its financial results for the fourth quarter and full-year fiscal 2011 on February 13th at approximately 4:00 p.m. EST (1:00 p.m. PST). The Company also announced that it is nearing the completion of its $25 million stock buyback program, having repurchased approximately 9.7 million shares of common stock at an average price of $2.57 per share since commencement. A copy of the Company's press release is attached hereto as Exhibit 99.1 and incorporated by reference in this Item 7.01.
Come on guys take a chance. I did it on Petsmart @ $3.00 years ago when they lost the Iam's food line. The were going bankrupt according to everyone on the board back then. They are close to $60 today. I also did AKAM @ $5.00 in 2002 and was rewarded.This is rock bottom.
....so, Lynch noted to look for company officers buying or selling stock (why?) and act accordingly. Again, different times today; polarizing; tricky - by design. "These were the good times, yet these were the bad times" -