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JOYG drew a line in the sand and others will follow, as did POT and FWLT.
Sep 15 12:45 pm
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All Comments by einstein p fleet »Commodity Sector Companies Fight Back With Buybacks [View article]
Management of those companies believed that the stocks had been beaten down to a level where the prices no longer reflected the companies value or fundamentals. All of these companies are awash in cash, so why not put it to good use and support the stock price and your shareholders?
There has been talk that the SEC will finally enforce the naked short selling rule ---- which is long overdue. There is also a lot of money sitting on the sidelines that will be put to work sooner than later. Energy, agriculture, basic materials, and infrastructure are very attractive at these levels --- especially if they are buying back stock or decide to put cash to work by buying their competitors.