Buybacks are a logical move when the company has cash and the stock price is undervalued, as long as management believes that the cash won't dry up going forward. So it is doubly a positive indicator for the stock. I think the correction here makes sense, but the bounce back will make sense, too.
On a side note, are positive comments purposely being deleted from this board? I don't see a board moderator, but somehow I see posts being deleted. Specifically 2 responses to the '20 foot pole' comment.
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