Lions Gate Reveals New CEO Bear Market Tactic To Deal With Stock Crashes (02/07/2016)
Lions Gate CEO appears on CNBC as his stock crashes 27% in a day.
You can tell that he is shaken up. But what is most interesting is what he says at the end of the interview.
He states he has gotten the approval to engage in more stock buybacks.
He says this to buck up bagholders and make it sound like he is going to do something to force the stock back up.
However - he says he has approval to do buybacks and not that he is going to do them.
This is going to be become a common tactic this year as more stocks drop.
Buyback programs of heavily indebted companies are coming to an end - but some CEO's will get approval to do buybacks but not really do them - and desperate bubble bulls will grasp on to such announcements to find rays of hope in a vicious bear market eating them alive.
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