In today’s briefing:
- Recruit Buyback: An Attempt to Rescue Falling Share Price; Seems Like a Good Short
Recruit Buyback: An Attempt to Rescue Falling Share Price; Seems Like a Good Short
- Recruit has announced a share buy-back on Friday of 34.0m shares (2.06% of outstanding shares) for JPY155.8bn, implying JPY4,581 per share.
- Recruit’s shares closed at JPY5,090 per share at the end of Thursday’s close, and following the announcement, shares moved up to JPY5,305 a piece, gaining 4.2%.
- We think Recruit’s shares will be a good Short over the next few days.
Before it’s here, it’s on Smartkarma
