rbreich ,
@rbreich@masto.ai avatar

Apple shares lost 10% of their value.

Then Apple announced plans to buy back $110 billion of its own stock.

After that, Apple shares had their best day since 2022.

There's a reason stock buybacks used to be considered illegal stock manipulations.

They should still be banned.

Vonskinnback ,
@Vonskinnback@mastodon.social avatar

@rbreich this is why nobody should ever listen when they have those stories on the news saying that the stock market is rallying or in a bull run or having the greatest period of growth in decades because it doesn't mean shit for anybody else on the ground only people who earn their wealth off other people's hard work & poverty wages...

UpLateGeek ,
@UpLateGeek@bitbang.social avatar

@rbreich but how else are we supposed to allow big corporations to legally print money for themselves!?

chebra ,
@chebra@mstdn.io avatar

@rbreich I don't understand. How does this hurt anyone? I'm not an Apple fan, I just don't understand why should this cause any outrage.

mneme ,
@mneme@dice.camp avatar

@rbreich Honestly I'm not sure what the difference is between dispersing extra cash with buybacks vs dividends. I guess it's significantly better for options-holders, who wouldn't benefit pre-exercise from dividends but do get the "hold" portion of the buyback benefits.

gumpfloyd ,
@gumpfloyd@mastodon.social avatar

@rbreich Money has been a manipulation since its inception.

dan131riley ,
@dan131riley@federate.social avatar

@rbreich At the very least, stock buybacks ought to have criteria disclosed far in advance and subject to the standard SEC filings.

And CEOs of major corps should not be compensated with stock options. Dividends would be an improvement.

clpkbc ,

@rbreich Boeing seems like a classic example of the risk. No money left to fix their problems.

SNerd ,
@SNerd@lor.sh avatar

@rbreich
Imagine where the DOW would be if they never made it legal

Kierkegaanks ,
@Kierkegaanks@beige.party avatar

@rbreich why even buy back instead of reverse stock splits?

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