3 ms·
but the stock jumped 9% so wouldnt that be counter productive for buyback? (ie now you get less consolidation of ownership than before)
by maerF0x0 4y ago
but the stock jumped 9% so wouldnt that be counter productive for buyback? (ie now you get less consolidation of ownership than before)
- robocat 4y agoThey don’t need more ownership: “The result is that Spiegel and Murphy own a whopping 99.5% voting control of the company.” - https://www.marketwatch.com/story/as-snap-melts-down-its-founders-make-sure-to-protect-the-people-who-matter-themselves-11658452231 https://www.marketwatch.com/story/as-snap-melts-down-its-fou...
- maerF0x0 4y agomy point is if the stock price jumps then the buyback occurs at a greater price per share, making the effect of the buyback less effective (fewer shares are eliminated)