Closed at $45.77, back to where it was before the $30 billion buyback! CS’s trick to prop up the share price only lasted a day !
What an arshole! Buyback to prop up share never works. Offshoring jobs sacrificing quality never works! Blaming legacy problems for his incompetence won’t work, either.
CS and Co. need to go.
The increase in share value won't happen until the buybacks actually happened. Nothing has changed with the announcement.
It's gotta end at some point, I mean what's the plan. Take the company entirely private and off the market? Might not be a bad thing, if they'd stop overpaying for what they'd get.
So they've done $35 billion of stock buybacks and the share price is now slightly lower than it was 4 years ago. CS figures the solution is ... $30 billion more buybacks.
What's that saying about doing the same thing over and over expecting a different result?
The stock buybacks have been increasingly aggressive. Billions of dollars. Despite what they oddly sometimes say, women love to give head. We'll see if the buybacks continue, and whether or not it affects the dividend.
OP is correct. CS became WF CEO in October 2019, and had spent $35 billion in 12 stock buybacks. Everyone knows there is a tax me lag between approved plan to buy and $ actually spent. Who is the ignorant one?
https://ycharts.com/companies/WFC/stock_buyback
Share price in December 2019 was in the low 50’s.
Today July 27, 2023 . It is traded at 47ish.
This CS is a one trick pony!
They did buyback 4 billion worth each of last 2 quarters. You will know when they buyback as volume will be abnormal and stock price will be way up. Enjoy at these cheap levels we will be over 50 shortly
Yeah that Musk fanboy spamming downvotes was not doing himself any favors
I love it when people think they have a gotcha moment and they are so far out of their element.
OP: Your ignorance is concerning. Why you are WF employee is beyond me. FYI-approving a buyback doesn’t guarantee the entire buyback happens.
Charlie was just trying to hang with Elon Musk in wasting $10's of billions of dollars on a stupid pet project.
@OP. Do you even know how buyback works?
They announced the buyback program. Doesn't mean they actually bought $30B worth of stock on that day.
I believe they've been buying back $4B each in the past two quarters.