I mean management is going to think the stock is always undervalued.
Slightly offtopic: If a company does a stock buyback because they think its undervalued, what happens next? Does the stock go up and they're satisfied? Does the stock go up and then they sell it?
If they're selling it to realize profits, I say that it tantamount to pump-and-dump. If they sell it just to hike the price, why not distribute dividends with their excess cash reserves?
Slightly offtopic: If a company does a stock buyback because they think its undervalued, what happens next? Does the stock go up and they're satisfied? Does the stock go up and then they sell it?
If they're selling it to realize profits, I say that it tantamount to pump-and-dump. If they sell it just to hike the price, why not distribute dividends with their excess cash reserves?