I agree! and let me add....that something "FISHY" has been going on with COOP for a very long time...not sure what the end game is?
Not to point out the obvious but, 200M / 39.XX = appr 5 million shares...add that to the rest that they own....and its a massive sum of shares .And a massive amount of money spent acquiring those shares..
Book value increased to $58.18, so repurchasing their own shares below this value is extremely accretive for COOP an their shareholders. I do not think COOP BOD caused this drop to buy back shares, but rather shorts covering and MMs preparing for the next leg up IMO