Wednesday, November 20, 2013 5:26:13 PM
I haven't read the rules on this in a long time, but if memory serves me right, I believe the company cannot buy the opening trade, cannot purchase more than 25% of the average daily volume for something like a few weeks beforehand or something like that, they cannot buyback during the last 30mins, I believe they cannot buy above the highest bid or an average of the bids? I don't remember exactly, but the point is that the company cannot manipulate the price up.
In the long run buybacks can run up the price because the float is getting smaller, so there will be more volatility and less shares available on the open market, but they can't buyback to drive up the pps.
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