"The once-illegal practice of companies purchasing their own shares is pulling money away from employee compensation, research and development, and other corporate priorities"
https://www.theatlantic.com/business/archive/2018/07/are-stock-buybacks-starving-the-economy/566387/
Trying to avert lawsuits? https://finance.yahoo.com/news/final-deadline-alert-brower-piven-120100670.html?.tsrc=applewf
The problem is that the director of the board have no vision.
The buyback is a clear message. There is no growth opportunity for investment internally or externally.
Very very sad
SM, GD, and CA have no clue how to invest the QC cash for growth..... so only option is to give it back to shareholders so they can invest it. Nice upside on share price is nice bonus. They need to stand aside and let new team with vision, engineering excellence and talent take over....