Not everyone selling at a loss. Many in a 20c and still taking good money off the table I suspect.
Put your hands up if you bought news of the share buy back just to cop in the neck days later? I for one am suprised given the generally positive market since buy-back announcement that management has allowed share price to get thumped again. What is the point of making that announcement, letting the faithful step-up supporting the price then provide no support in the market?
By letting the retail players take another savaging they have just lost all momentum the buy-back could have had. Now retailers will rightly be too gun shy to buy again so the buy-back will end up having to shoulder all the work instead of "teaming up" with the buyers and getting the price back to a more reasonable level quicker. I hope holding off the calvalry and sacraficing more of the loyal supporters is about a cycnical exercise in letting the price down to 77c making Directors "inside purchase" look a little more reasonable..... cause it looks prety average.
It seems unless you are on the inside of this one buying is a risky game of guess-work.... will they support us or let it drop??..... am I buying the a little sucker rally or is this buy-back support?? How about some clarity and putting some serious support on screen, letting the sellers and intersted buyers sort this out for all to see. Only the directors know when to buy and when support is coming it seems.
goodluck
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