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Monday, August 27, 2018 4:38:46 PM
However, the company itself can buy back its stock. And they did say they will but they need Board approval for this, and that they will seek that approval at the Board meeting when they finalize the yearly financials (so months away). If management viewed these prices as very low, I suspect they could convene the board (most boards can meet over the phone) and get such authorization. The fact they are not doing that is negative ( the "we can't because the Board has to authorize it and we don't have the authorization" excuse).
The only other reason they are not buying (other than they don't believe it is a bargain) would be they want to conserve cash for the product launch. I suspect this is what's happening. They probably want to buy their own stock back later, when they will have more visibility on the cash flows (orders) from the new product.
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