When it rains, it pours.
This isn't rain.
It's damn knives.
A company depleting its circulating funds and, furthermore, incurring debt to buy back its own stocks—if either happened independently, it wouldn't be a big deal, given the tradition of American companies to buy back their own shares.
But the purposes are different.
If it's to stabilize the stock price, then it's bad news.
If it's to boost end-of-year performance, then it's good news.
Clearly.
Now it's mid-year.
Yahoo is barely clinging to life, and so the market, very cooperatively, immediately reacted to the news. Many small investors prepared to cut their losses before the buyback funds ran dry.
And after it was revealed that the funding chain had dried up.
One bad piece of news after another kept coming out.
Yahoo was once more dumbfounded,
"..."
