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Though JA Solar (JASO +13.4%) soared on news of its $100M stock buyback, Jefferies...

Though JA Solar (JASO +13.4%) soared on news of its $100M stock buyback, Jefferies (Underperform) isn't convinced it's a bright idea. The firm observes the buyback amounts to nearly half of JA's market cap (currently $213.4M), and thinks the demand, margin, and payment issues facing solar vendors require them to "save every penny." And even if a company has excess cash, Jefferies considers it better spent on downstream (i.e. installation) projects, which remain profitable.
Comments (3)
  • The EconomicJoker
    , contributor
    Comments (961) | Send Message
    Jefferies can get bent. Seriously.
    14 Jun 2012, 05:16 PM Reply Like
  • medzjohn
    , contributor
    Comments (249) | Send Message
    The management is putting the shareholders money to work and showing stalwart confidence in their investment?


    Leave it to Wall St to hoot at this news. Less money in the corpus for the vampire squid to suck out.
    14 Jun 2012, 05:22 PM Reply Like
  • Hubert Biagi
    , contributor
    Comments (698) | Send Message
    Obviously, Jefferies is shorting solar, like everyone else. Ironic that everyone was shorting Jefferies a few months ago, it's all a game...
    14 Jun 2012, 10:14 PM Reply Like
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