Green Packet / Why Buybacks Fail

I should really consider writing as a team with Moola. He has provided a glaring example of why buybacks fail in Green Packet. It is relevant as it is current. One additional thought, I wonder if any of the company's substantial shareholders were SELLING during the period Green Packet is buying back shares.

From Moola:

Here is one GLARING "LIVE" example.

Green Packet.

1. Dec 26th. 2007 Notice of Shares Buy Back - Immediate Announcement

Lowest price paid 2.38. Highest price paid 2.50.

2. Dec 27th. 2007 Notice of Shares Buy Back - Immediate Announcement

Lowest price paid 2.43. Highest price paid 2.53

3. Dec 28th. 2007 Notice of Shares Buy Back - Immediate Announcement

Lowest price paid 2.54. Highest price paid 2.80.

4. Jan 2nd 2008. Notice of Shares Buy Back - Immediate Announcement

Lowest price paid 2.80. Highest price paid 2.93.

So, from Dec 26th 2007 to Jan 2nd 2008, Green Packet's share buybacks saw it paid a lowest price of 2.38 and a highest price of 2.93!

Consider the points Dali made and do put that into perspective of Green Packet's current share buybacks.

Do you like what you see?

Well for the record, Green Packet, share price has been performing terribly.Green Packet's highest traded share price was 2.94 on 31st Dec 2006. GPacket closed at 2.77 yesterday, 4th Jan 2008.

For a full version of Moola's post, please go to the link:

http://whereiszemoola.blogspot.com/



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