GME - Article from April 2024! GME still has $100 million in the share buy back approved by board in 2019!
๐ฝ ShitpostSeems an irresponsible use of capital for the company to buy back like 5 shares.
Doing two ATM offerings and then immediately doing a share buyback seems nonsensical
thank you, people are still hyping buybacka rather than dividends or shofting that 100mio into the warchest
Itโs called trading
ATM at 30$
Share repurchase at 20$
Easy gains for the war chest
wow it's like this information has been the same for the last 4 years
๐๐
if we hit 10 dollars. sure. they MIGHT do this. but thats the only way we could even entertain doing this.
Theyโll just save it if the hedgies try to bring it under 5$ a share
They literally canโt. Cash on hand is something like $10/share
True.
We did hit $10 and no share buybacks
Intrinsic value was lower then.
Ask them to try just one more time I dare them ๐๐๐
Why would they after just doing the sell off????
They just sold more..why would they buy?
Remember when the corporate financial media were pleading for a buyback to occur? Pepperidge farm remembers. Until the ability to illegally lower share prices is dealt with, it makes no sense to siphon funds away from the company's operations.
Gamestop is going to be buying a fractional share with that pocket change.
stop it. GME sells shares for a company turnover. there is absolutely no zero niente reason or logic to buy shares back
There is logic in having one approved though. It keeps the hedgies afraid of a buyback if they run the price down too much. I wish they would approve more now that GME has $4b to play with. Even if he never uses it that just keeps the floor price higher
if it drops below a certain price there is both reason and logic
Yeah, I agree with this one. But that price is probably way below $20 where it would actually bring value. It will be kept as a wild card for now in the case somehow MM manage to drive the price down. But at $25+, buying back now wouldn't make sense since they recently sold at what, $28.50 a share from offering? That's only a $3.50 difference. Not even worth using up the hidden wild card yet.
Wild would be GameStop scooping more shares at $1 can u imagine that
Money is already set aside what are you talking about? It was approved back in 2019!
I know I am here long enough and I see that posts for the same long time. They will NOT in the near future do that. why would they?
If said funds are already set aside and registered as such with the SEC then why wouldnโt they?
The funds aren't set aside and earmarked.
They have the ABILITY, not the obligation. It's not a seperate 100M$ in a seperate line item on the balance sheet. It would draw straight out of the 4B$ warchest.
Possibly because it would look like weakness under current circumstances.
Why GME?ย || What is DRS?ย || Low karma apes feed the bot hereย || Superstonk Discord || Community Post: Open Forum May 2024ย || Superstonk:Now with GIFs - Learn moreย
To ensure your post doesn't get removed, please respond to this comment with how this post relates to GME the stock or Gamestop the company.
Please up- and downvote this comment to help us determine if this post deserves a place on r/Superstonk!