I just had a look at Green Packet price.
It was just less than four months ago when I mentioned that this was a stock which was so aggressive with its share buybacks. See previous posting: Update on Green Packet's Share Buybacks
And it appeared that Green Packet had stopped buying back its shares. The following screen shot showed the last announcement it made to Bursa.
Price now is 1.52.
Makes you wonder, why the company was so aggressive buying back its shares earlier?
And yes, here is one stock for your scrap book....
now how would you want to label it?
'Example of why share buybacks fails....
'Don't assume too much from share buybacks....
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5 comments:
"Makes you wonder, why the company was so aggressive buying back its shares earlier?"
Haha! Are you insinuating that the company aggressively bought back shares from the major shareholders' nominees, knowing that the company's prospects are not so good after all? :P
Yet another escape route for major shareholders not available to minorities. :(
And also don't EXPECT any good stuff from share buybacks,hah! Some ppl just love to see SHARE BUYBACKS, assuming the company will give repayment or bonus issue someday. Has Topglov announced any kangtao for its shareholders since it started its aggressive share buybacks?
Dear Junk,
Good points made.
Sometimes, me thinks, people ass-u-me too much, and they usually ends up making an ass of themselves!
:D
Dear John,
You know John, how can I be insinuating?
All I do know and that I can see is there's one aggressive seller during Green Packet's share buybacks period.
And the seller is Goldman Sachs.
Of course since it's Goldman Sachs, I would ass-u-me that you know that I know that you (yes you) also can insinuate a lot based on this info.
So how are you?
:D
The timing was just perfect:
1. GP aggressively buying back shares
2. Intel announce loan/stake in GP
3. Stocks go up, Goldman Sach selling
4. Quarterly announcement - 1st loss
5. All hell break lose...
Make you wonder - are they setting all these up just to put up a show for Intel? Does Goldman know something we don't?
Your guess is as good as mine...
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