Replies to post #379516 on Elite Pharmaceuticals Inc (ELTP)

[The ELTP King]

You're proving everyone's point.

Many shareholders don't even care if Elite does a buyback but rather they just announce it to send a signal to the market.

Just the announcement alone would make the stock go up and Nasrat would still get his way of Elite keeping all their cash.

It's a win-win situation.

And if for some reason the stock didn't go up after the announcement, Elite could actually go ahead a buy back several million dollars worth of shares.

Buyback programs need to be communicated of their approval prior to execution. This would have an effect on share price as it’s a signal to stable cash flows and strong signal the stock is at a discount.