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Virtu Q1 revenue $1.01 billion, est $522M Virtu Q1 EPS $2.04, est $1.29 Increases buyback program by $300M I knew today had good day vibes

mkt is not going to capitalize the beat, at best they will assume $1 of value accrues to holders. Real upside from here in this stock seems will only come if someone acquires it, no?

Why do you think market doesn’t recognize the value here?

With trading volatility it is difficult for the market to distinguish between cyclical and secular growth. As a financial, the market place is a low multiple on it, despite it being a demonstrably higher return business than most financials. Bad press.

Fair. But if you and I know that, don’t the shareholders who are selling by the millions at $29 also know it?

Lota dumb money, lotta dumb money. That's the opportunity.

I guess my confusion is that even the dumb money can see their earnings. It’s a bit of a small/niche company for dumb people. But to your point, if the buyback were a special dividend instead, everyone would be worse off and the stock would be at $60.