It appears they don't seem to care about PPS and resultant shareholder equity. The current PPS and recent historical PPS and drop helps support that.
If they really did they could do more share buybacks, increase divy, drop AS, etc to create more shareholder equity. Creating shareholder value and equity should be some of their top goals. If you agree, they either don't care about it or don't know how to do it or both.
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