CCME - The companies you mentioned are not Chinese RTO's/SPACs. Their credibility or legitimacy has never been called into question. Their SAIC/SAT filings match, if you check. Might as well be in a totally different sector. China large cap.
C'mon, let's call a spade a spade. CCME has done excellent on almost all counts. But on this count, they f'd up miserably. The buyback was announced Sep. 16. Net of cash, the stock was trading at about 1.5 times earnings. 1.5 P/E growing at 100%!! They had $170MM in cash generating a measley bank return, half of the market cap. And yet by Sept. 30, they hadn't bought back a single share? The stock was getting destroyed in that period.
Call a spade a spade. That's f'd up.
In hindsight, we can celebrate the price achievements since then, but if we had known there would be 0 buyback back then, while we were all sitting here in silence hunkered down to our shares, we would have been really really peeved--and scared.
They blew a 200% investment return. Triple your money.
Why?
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