135
Apple has plowed over $500 billion into stock buybacks since 2012 — more than Visa, JPMorgan, or Exxon are worth
(markets.businessinsider.com)
this post was submitted on 12 Aug 2023
135 points (95.9% liked)
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This should be illegal.
Why? It's a perfectly reasonable thing to do. The company sold stock to raise money. No reason they shouldn't be able to buy back the stock they sold with the money they made.
They didn’t sell stock to raise money to buy their stock, that doesn't make sense. They sell stock when they feel they need cash and/or they think they are fair/over valued. They buy stock when they have excess cash and/or feel they are undervalued. They also have to disclose both sales and purchases beforehand.
I can see how my reply could be interpreted that way but that was not the intention. I meant they sell stock to raise money to fund their business, expansions, etc. Not to raise money just to buy their stock back.