Replies to post #56655 on Phoenix Associates Land Syndicate (fka PBLSQ)

[LowFloatGoat]

Did one of the rumored quitters unload part of his position over the last several days? That would explain the sustained selling. If he's done selling then this bounce will take us back to where we were.

[Rally Cry]

Ren,
Good question. I wish you'd have asked it before I called the TA. I of course jumped at the chance to do a favor for one of the worlds best mods (imo). I called her back, and she said the only way the OS would change would be if the company would send the shares they buy back into the TA and ask that they be cancelled.

[sawdin]

No, if the company buys on the open market the OS does not change; they can just sit on those shares and resell them at a later time. They need to actually 'retire' those shares, my guess is that they need to contact the TA and specifically request that shares be retired. Hmm, wonder if the TA requires certs! LOL... Seriously, the TA can 'retire' the shares and thus affect the defined OS, but if MM's sell phantom shares anyway, how much of a difference does it make? Is the difference mainly psychological? Mainly one of definition when computing EPS and other metrics?