Not often you see one of these for a share price falling too fast...
Personally I think this highlights the clumsiness of the buyback being butchered by Fosters. They stop buying for just three trading days and here we are at $1.30 which is fine by me I'm not concerned about the price, I just can't understand why Fosters don't use this strategy all the time.
Buy a few hundred K of stock, then step back for a couple of trading days, then step back in and buy some more at a lower price. There are millions of dollars at stake here & I reckon it's been conducted in a very amateurish way so far.
I'm personally hoping for another day like this tomorrow because I still see very strong medium-long term returns here.
IOH Price at posting:
$1.33 Sentiment: Hold Disclosure: Held