Replies to post #3761 on Destiny Media Tech Inc (DSNY)

[streamingeagle88]

May I interject.

The stock repurchase plan was stupid? Not from my vantage point. Used excess cash to retire stock that was cheap just before introducing products that are likely to cause a significant upward revaluation. Demonstrates confidence and support of shareholders. What is not to like??

What is the alternative..... a dividend. Seriously??

I invested in the same stock that the company did. I'm doubly pleased.

[commoncentsinvestor]

"Could you clue me in as to why you feel the stock repurchase plan was stupid?"

If there is one thing that is irrefutable, it is that if brooklyn expresses an opinion about something, that opinion is RIGHT when he gives it, and it remains RIGHT no matter how WRONG all the facts show it to be in the future.

When the company announced the buyback, the share price was in free-fall. It had dropped precipitously from .90 to .60. That announcement stopped the drop in it's tracks. I believe that was one of the reasons for the announcement. That part of it surely succeeded. The great majority of the shares repurchased by the company were in the .60 area. Of course they are now worth more than twice that price. So that part of it was also successful. Finally, of the one million shares they announced they would buy back under .80, I think they only needed to buy back about 300,000. So they accomplished their goals with a minimum expenditure and did it profitably.

I guess e brooklyns definition of stupid must be announcing a plan, executing a plan, and having it succeed.