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if the management really cares about shareholder value, it always can return all the cash used for share buyback through special distribution. of course it will permanently damage the market capitalization.
from September 09 til 28, the company did no share buyback. the share price of MIIF went down in a straight line. if I am not wrong, there were not one day the share price rose. of course, we can argue that the market were bad.
from October 3 til 14, for every single day, I roughly calculate 1/3 of the transaction are done by the company share buyback, that's 1/3 of transaction for 10 consecutive days. if it is not share buyback, it will be an outright market manipulation.
from September 09 til 28, the company did no share buyback. the share price of MIIF went down in a straight line. if I am not wrong, there were not one day the share price rose. of course, we can argue that the market were bad.
from October 3 til 14, for every single day, I roughly calculate 1/3 of the transaction are done by the company share buyback, that's 1/3 of transaction for 10 consecutive days. if it is not share buyback, it will be an outright market manipulation.