Hello Clownbuck,
I was in GFRE once before which I thought was going to be a long-term holding, but turned into a short-term trade when it ran quickly from 8-10.
Anyways, at these levels, I'm very interested again and I'm considering building a position, but no action taken again.
In regards to your general question about buybacks, I've noticed that it turns out to be hard for small Chinese companies to really do an effective buyback given 10b-18 volume restrictions. If the volume of a stock is low and there are no block transactions, I think companies are pretty limited in how many shares they can purchase. Volume is picking up though in the last month which might make this easier if they were to look into it again.
I mean you never know about a companies financials, I agree. As a CPA and Former Big 6 Auditor, my view is that there's not much that an auditor could do to catch a fraud. But, I think that GFRE is doing a lot to try to prove to the world that it's legit, by getting an internal control assessment and having large auditors.
I mean, who knows about GFRE. The stock price is definitely going in the wrong direction, but I think I'm willing to give it enough of the benefit of the doubt at current prices to start another small tracking position.
Thanks,
Grant |
