The thing to understand about buybacks is that they serve no legitimate economic purpose. They're pure transfer; no surplus.https://twitter.com/froomkin/status/1029000777459802112 …
You can add location information to your Tweets, such as your city or precise location, from the web and via third-party applications. You always have the option to delete your Tweet location history. Learn more
Buybacks, on the other hand, serve to shrink the pool of public owners (shares are bought from public owners and "taken private"). *IN THEORY* buybacks shouldn't affect the price of the stock more than a dividend of equivalent size would.
...except the tax treatment is different: https://www.investopedia.com/articles/active-trading/073015/dividend-versus-buyback-which-better.asp …
Further, in the very short term, buybacks look like demand for the stock ("information"), but do not reflect a material change in the prospects for the business. They're old news that looks like new-news. They game the market's information-gathering and pricing system.
...all while concentrating ownership, giving managers greater power, and depriving the firm of ways to invest in growth. Buybacks should be a red flag, and yet: https://us.spindices.com/indices/strategy/sp-500-buyback-index …
It should also be disturbing to work at a firm that engages in this sort of thing. It means management is spending time engineering share price increases rather than using cash-on-hand to invest in future growth.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.