Randy, Since you say we all know it's hype, how about substantiating that? I happen to disagree. ACRT has the money, why on earth are you saying they are short of cash? Further,they have some rather massive unused credit lines.
If they buy back stock, they will make a good profit from that decision, as well as support their shareholders position.
Companies buyback shares everyday for a wide variety of reasons. In the case of ACRT, the bear raid on them was hurting their reputation, their investors, and the slander was no doubt deeply distressing both their personal and professional lives.
Amos Aharoni is a tough businessman who has been through the wringer more than most. He did what had to be done, to defend his company from an attack that could have destroyed ACRT. If you doubt this read the article in the New York Times today. I'll provide you a link to it if you'd like.
Don't ever forget. the shorts desire was to put ACRt out of business. By doing so, they would never have to cover their short sales, nor pay taxes on their gains.
ACRT has taken steps, and will do what is necessary to protect themselves, and their investors from such destructive parasites. |
