No, by law buybacks cannot push up the price of the shares.
Not that it really matter, as I find alot of the time they're quite right, but most brokers value this company at around $1.50. As they have started a buy back for around $20mill, it looks like they are spedndeing money that they did not use in the $30millish share issue plus a few more mill.
I think they are amassing quite a large amount of cash at the moment, however I could be wrong on this considering that gross billings were $590mill and EBITDA was only $15mill.... looks like tight margins, going off commquests 4C staffing costs were 50%+ I'm wondering whether MCU's is around that level also.
Anyway future is bright.
Regards.
MCU Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
