Some managers believe they won't be able to grow their businesses further; can't find a good way to spend what they've got and no prospects to invest it well. The usual solution is a dividend: https://www.investopedia.com/terms/d/dividend.asp …
If the price goes down relative to the % of dilution, then the previous market price was "correct"; the marginal buyer had full information. If the price goes up (or stays higher than %-diluted reference), investors are saying shares are now worth more.
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Context also matters; is the new issuance due to a capital shortage? To fund new expansion? Some other reason?
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Regardless, there's information flowing about the business's prospects. Not true in the buyback case.
End of conversation
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