Halozyme Therapeutics Inc (HALO)

[Fred Kadiddlehopper]

I wish it was in the 70's now and I'd be a happy man.

But the chart shows exactly what the broader market thinks of these financial engineering moves. It's undeniable that the downhill slide started exactly when the first convertible refi was announced and I expect no substantial change with this new buyback plan.

It shows the company has no forward game plan and no strategic vision. If the buybacks were in conjunction with a broader comprehensive approach I'd be a little more neutral about them.

A steady string of partnerships, followed by an announcement of a dividend, that would be the key.

Ask yourself, what if they find a new technology in a small company that they want to buy and suddenly see they are short of cash to make it happen. They'll issue MORE shares again in exchange for cash. At this time, under these circumstances, it's just plain stupid to spend another half billion dollars on this nowhere buyback plan. All my humble opinion of course.