I find it quite ironic how people get upset by the stock going down during a share buyback. The point of the buyback is to benefit the shareholder as much as possible, not to improve your swing trade.
It is like deja vu of a few months ago with FMG, everyone was hating on the share buy back and how it was being operated.
Fast forward to today they bought 100 million of stock for under $4, they did a special divdend and the share buyback remains in play for any future weakness in the share price... These institutions that do buybacks are not dumb...
They are playing off your negative sentiment. They want you to loose hope and they will snap your shares up as a bargain when you do
This idea that they are going to come out the gates charging on day one is unrealistic and would be quite a dumb thing to do.
They may even be playing off the technicals, letting the share price deteriorate to $1.45 to close the gap...
IMO DYOR
BIN Price at posting:
$1.56 Sentiment: Buy Disclosure: Held
