Nov. 12 at 10:20 PM
$BGC Surprised BGC has gotten little traction since the larger takedown and reversal after reporting strong earnings and guided for more strong revenue and earnings.
BGC also announced progress on their cost reductions and a
$400 million share repurchase program along with paying off two loans of ~
$300 million.
I am generally patient but seeing little movement in stocks outside of technology (esp chips and AI). Market is sucking money into those sectors so all should be cautious there; and seemingly patient outside of those sectors.
My cost basis under
$5 although no gains in the past year while BGC has reported good growth and is forecasting good growth.
Hopefully those of us who are patient will someday be rewarded here. If they did not have those loans and share buybacks, I would advocate for a higher dividend to get paid while we wait.
I just wonder is they are using the
$400 million to aggressively buy back shares just over
$9 now as if not now, when and at what price?
