To avoid stock manipulation, there are strict limits on how much of its own stock a company can purchase in a given trading day. So in practice, legally, compa

To avoid stock manipulation, there are strict limits on how much of its own stock a company can purchase in a given trading day. So in practice, legally, companies have a ceiling on how much they can technically purchase in a given quarter. But most companies aren’t in the lucky position of wanting to do buybacks larger than their normal daily stock flow.