RE: Fascinating.10 Jul 2024 10:28
I agree wil Jim800, the board should be focusing on stablising the company and stock price rather than this reckless buying spree, the market has lost total confidence in the board.
The reuse of captial is currently woefully at best, BB at 3,750 a day which is already a joke, then you overnight surrender
such a large amount of stock.
Funding acquitions was meant to be covered from the reduction in dividends and existing assets, also this shows snowcap report was accurate and the dividend just was not affordable and they still need to borrow to surive.
It also shows the PV values there using are a joke most in industry use 10 not 20, so suggest more account shady antics though legal there are many assumptions rolled in.
Thsi feels like a lot gambling is going on and hence the market does not know which way this why we have tussle with shorts and II, eventually one will come out on top.
The only confidence I hve is that BB bought in big and JPM have reduced the short and both have access to vast amount of data and some inside knowledge.
But at the end of day the gamble for both is very small in grand scheme of there portfolios.