XIN
XIN announced a $10 Million share repurchase. Investors get to vote December 4th
The first proxy enables the buyback the second proxy ammends their statements to include the buyback and the third proxy does their auditing stuff.
If this passes, this buyback is currently equivalent to 18x the daily share volume and about 1/10 of all shares outstanding.
Their cash position is strong and this buyback makes sense. I expect doubling. That said, Russian and Chinese and Brazil securities are all over the place. Get ready.
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Glen's Musings — AI, investing, and building things. Occasional. Free.
Glen Bradford
Investor · Builder · Writer
MBA from Purdue. Former hedge fund manager. Holds 26 series of Fannie Mae and Freddie Mac junior preferred stock. Built Cloud Nimbus for Salesforce consulting. Author of Act As If. Writes about investing, building things, and the longest financial fraud in American history.
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Read moreDisclaimer: This blog post reflects the author's personal opinions at the time of writing and is not financial, investment, or legal advice. Glen Bradford holds positions in securities discussed on this site. Past performance is not indicative of future results. Do your own research and consult qualified professionals before making investment decisions. Some content on this site was generated or edited with AI assistance.