BET Ann: BetMakers Announces On-Market Share Buy-Back - 24th Jun 2022, 9:04am

[jaydenmoses]

You would think shorts must of been covering to account for the extra 5M traded

With the buyback as a floor, bet is a no brainer for anyone looking for a short term gain, they won’t let it drop below it’s current levels in the short term and the upside on current figures combined with if the shorts start burning is enormous. Should be shorts covering but I wouldn’t be surprised if it was just retail/Instos bargain hunting

 

[Ibetfixed]

You would think shorts must of been covering to account for the extra 5M traded

Yeah agree .. some of the shorters would have covered .. and still be making good money at these levels .
Is there a certain period before the announcement of quarterly results that BET are banned from buying back ?? If so, what length of time would it be?

 

[Lattelarry]

Not sure on the actual length of time for a blackout period…..be interested to know though!………..if BET don’t buy-back while the price is in their range……can we assume (I know you should never assume!!) that news must be on the way?

Probably is the case I would say now.

 

[TeddyFiles]

buy-back at .417……..so will be a slow day today I think

Where are we at today Reg?

 

[Lattelarry]

Cant believe they didn’t drop a 1.5M order at .42 at the auction!!!!…….is this our broker at Barrenjoey?

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Yeah they should push it to the limit one day.

But I get Teddy's point about frustrating them too and I guess with their slow buying tactic they are probably getting them cheaper too.

 

[Ibetfixed]

There is the other school of thought that buying back the shares cheaper is better for us shareholders .. if they buy back 80 mill shares at an average of 40c then cost Is $32mill if they average 60c then cost is $48mill .. ie $16mill less in BETs bank account.

I would think it will take a good 6 months to buy back 80 mill shares and by that time we will have had 2 strong quarterly results hopefully both showing cash positive quarters and that should be a strong enough message to both the shorters and investors that the company is only heading in one direction

The ideal situation is that the shorters .. in order to close out their position ..end up competing with keen institutions/retailers wanting to buy BET ie the shares will stand on their own 2 feet without the buy back propping them out .

 

[comin2getme]

Buy-back limit for today is 0.424, total shares bought is now at 16,650,000 for a total cost of $6,645,872.06 at an average of 0.3992 per share.

1.8% of BET shares off the market...

 

[Ibetfixed]

Be great if BET could get back 80 odd million shares averaging 40c …
September looking to be a very soft month for world markets … so they need ti keep the hammer down and get as many as they can at these prices .

 

[TeddyFiles]

Looks like BarrenJoey are restocking the .40 buy orders this morning……..big volume at that price.

Yes very good volume today. Looks like they are filling their boots.

 

[TeddyFiles]

HA HA…..I think somebody heard me….look at the buy at the 10:57 mark!!

Short cover or BET. Either way I like it.

 

[RHINO]

Love KFC!!!!
Looks like Perennial is out!
Now if we can get rid of that annoying little fellow ,off to the races!

 

[comin2getme]

Worlds first Drive Thru KFC at Broadmeadow. It can't be a coincidence.

 

[Lattelarry]

‘lovesawinner’ on HotCrapper knows the deal!

Yep DaceC is a moron. No2 most shorted on ASX and claims shorters are mythical.

 

[TeddyFiles]

Buy-back limit for today is 0.422, It will be interesting to see the action today as there is no room for BET to push it higher……lets see if anyone else try’s to keep the SP just ahead of BETs limit so that they can cover their shorts.

With them buying 5,000,000 yesterday. Strong buying from others is a great sign.

 

[Ibetfixed]

Buy-back limit for today is 0.424, total shares bought is now at 16,650,000 for a total cost of $6,645,872.06 at an average of 0.3992 per share.

Reg .. is 5% above of the 5 day average VWAP got us to 43c today ?

 

[RHINO]

My only concern around the status quo, is we've used up around 26% of our firepower , and we've only seen slow creeps and sideways movements if anything.

You would think 80 million share buyback should be enough ammo.

I'm not aware of how much firepower the Shorters still have to play with , and that's what concerns me.

Can we get enough traction with what we have left,to get to the price levels that starts to make the shorter's bum cheeks tighten ?

It will be an interesting few weeks coming up!

I think BET are betting on significant news announcements to come out in the next month or so to make the buyback irrelevant!

Yesterday's action felt a bit like that's coming sooner rather than later.

Thoughts please

 

[Ibetfixed]

My only concern around the status quo, is we've used up around 26% of our firepower , and we've only seen slow creeps and sideways movements if anything.

You would think 80 million share buyback should be enough ammo.

I'm not aware of how much firepower the Shorters still have to play with , and that's what concerns me.

Can we get enough traction with what we have left,to get to the price levels that starts to make the shorter's bum cheeks tighten ?

It will be an interesting few weeks coming up!

I think BET are betting on significant news announcements to come out in the next month or so to make the buyback irrelevant!

Yesterday's action felt a bit like that's coming sooner rather than later.

Thoughts please

My thoughts are .. buy the 80mill shares as cheap as possible … Ie hammer down .
We have all invested in a company because we know that it will start making many many millions of profits annually .
Shorters don’t like profit making companies … they will flee quicker than Christopher Skase

 

[TeddyFiles]

My thoughts are .. buy the 80mill shares as cheap as possible … Ie hammer down .
We have all invested in a company because we know that it will start making many many millions of profits annually .
Shorters don’t like profit making companies … they will flee quicker than Christopher Skase

The chase for Skase

 

[Ibetfixed]

Reg … we must be up to be able to buy at 43c by now ?

 

[Lattelarry]

Wonder why they aren't buying