Hi Guys,
I have just been discussing on market buy backs with some people. We have decided that for various reasons they should not be allowed to continue in current form. I am using NAB as a example.
1. Market manipulation - at times the buyback has constituted upwards of 25% of the days volume. Surely this hinders a fair and reasonable market.
2. Price Manipulation - A large scale buy back must effect the true market price. Surely this hinders a fair and reasonable market.
3. Shareholder responabilities - Supporting the price by buy back cannot be good for shareholders. The company is paying too much for the shares.
4. Broker behaviour - It is in the best interests of the buy back broker for the price to be higher as it gives them a higher maximum price.
5. Broker Behaviour - the buy back broker should only be able to bid for stock. They should not be able to "hit the offer". Surely this hinders a fair and reasonable market.
I am interested in the thoughts of others. Remember that NAB is an example so this is not a bank bashing thread.
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Last
$29.47 |
Change
-1.245(4.05%) |
Mkt cap ! $97.50B |
Open | High | Low | Value | Volume |
$29.56 | $29.76 | $29.40 | $53.31M | 1.803M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
5 | 636 | $29.46 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$29.47 | 190 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 13 | 29.470 |
9 | 2603 | 29.460 |
16 | 35417 | 29.450 |
9 | 4897 | 29.440 |
9 | 4241 | 29.430 |
Price($) | Vol. | No. |
---|---|---|
29.480 | 3371 | 8 |
29.490 | 1859 | 5 |
29.500 | 12794 | 9 |
29.510 | 2546 | 8 |
29.520 | 2426 | 8 |
Last trade - 10.24am 09/08/2022 (20 minute delay) ? |
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Last
$29.50 |
  |
Change
-1.245 ( 4.14 %) |
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Open | High | Low | Volume | ||
$29.57 | $29.76 | $29.37 | 355539 | ||
Last updated 10.44am 09/08/2022 (live) ? |
NAB (ASX) Chart |