Allstate artificially driving the stock up today with some good old buybacks.
13 replies (most recent on top)
Clayton County Register?
No corporate handler or shill here, just an employee investor that reads the SEC filings. Tom has lots of problems with this place, and he doesn't need an SEC charge because he props up the stock. With the poor operating performance and extremely hot water temps in the Gulf, the Q3 earnings (loss) could be staggering and problematic. Better have a strong reinsurance program in place.
Paid Handler corporate shill white knighting for Allstate's underhanded stock manipulations after yet another failure of a quarter. Surprised the company still pays you goons considering how lame and how foolish you make the company look on sites like this.
They aren't calling it "buybacks" anymore but that's essentially what it is. Still the same thing.
There are no buybacks. https://www.claytoncountyregister.com/news2/reversing-course-allstate-halts-stock-buybacks-in-face-of-repeated-losses/60499/
No company can sustain quarterly BILLION dollar losses. Time to jump ship.
They are not buying back stock. That is filed and approved by the sec. A company just doesn't wake up one day and decide to buy back their own stock because they had bad earnings.
I bought like 5 stocks. Financial education person told me it was a good investment I'm rolling my gold into it
They are low on capital, that's why they raised the Series J (BBB) round, so they could continue to buyback stocks. It's somehow NOT a Ponzi Scheme.
No buybacks taking place--they are low on capital given the BILLIONS in losses. The stock buyback was suspended in July 2023. And, this is before what's projected to be an active hurricane season.
@hrx+1nVAbTtm, OP is correct Jethro. When the stock drops below a certain price, corporate goes all in with buybacks like occurred yesterday. That is why the stock has not dropped below 102-104 even with the atrocious business results…..
If you are posting that these bounces after billion dollar losses are investors buying Allstate because it is a well run efficient company…….get a clue!!
They can't just buy back stock at some random price. They have a program in place. The posts on this board are just more ridiculous by the day.
They desperately want to keep it above $100
Same old song and dance with these clowns. It's the only way they know to do business. Smoke and mirrors and deflections. What a sorry bunch of fake, untalented executives.