Hummingbird Comm. (HUMC) Message Board

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Technology Stocks : Hummingbird Comm. (HUMC)

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To: Sultan who wrote (1697)	8/17/1998 8:30:00 PM
From: John Chatterton	Read Replies (2) of 2018

Some months ago I suggested that "now" was a good time for the buyback, with prices so low. Now they're even lower! It's not in HUMCF's interest to start a short squeeze while they're still buying back shares. They should do it slowly, perhaps accelerating toward the end when the shorts really have their balls in a vise. They don't want to pay a premium for their own stock! A million shares in a year is only about 4000 a day, which won't have a huge effect in itself, compared to current volumes. But reducing the effective float -- which I suspect is a lot less than 14 million shares or so (of which a million would be 7.7%, the figure in the press release) -- might have a strong effect, especially in the last phase, when the percentage of reduction per day is greater.

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