The more they buy back, the cheaper they get……
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The more they buy back, the cheaper they get……
https://www.stuff.co.nz/national/pol...nd-for-housing
Govt spends $1.4b on 16,000 new homes. More furl on the fire..
Makes sense though to buy more when the sp is down rather than up when doing share buybacks.
Institutions are obviously taking the opportunity of the buyback to lighten up their weighting in the stock.
From a fundamental assessment point of view, there are concerns that the big driver of FBU's turnaround - windfall profits from residential division - is not going to deliver from this year given how residential property prices are falling out there. Other divisions will continue to do well but FBU makes super profits from its residential construction division.
https://www.stuff.co.nz/business/128...biggest-agency
Like this one that fell over - just what we need
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