Back to collectionThe Buyback Notice Lands Amid a 25% Trading Range
Buybacks and burns were proceeding month by month, and A-Zhen was responsible for explaining this month’s notice. In early trading, the price broke below $0.00673 just as calls to cut losses began in the group. The notice remained a monthly account of buybacks and burns, not an explanation for the violent swings.
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Buybacks and burns were proceeding month by month, and A-Zhen was responsible for explaining this month’s notice. The group, however, was preoccupied with the sudden fall in price. She knew that publishing the notice at that moment could make a routine report look like a response to the market.
In early trading, the price broke below $0.00673 just as calls to cut losses began in the group. A-Zhen posted the monthly buyback notice at its scheduled time: the amount burned was slightly higher than the previous month, and the text said nothing about the market. Afternoon buying pushed the price back to $0.00842; it closed at $0.00774. The day’s range was 25%, yet the close was down only 2%. When someone called it a false alarm, she pointed out that the closing figure did not erase what had happened during the session.
The notice remained a monthly account of buybacks and burns, not an explanation for the violent swings. A-Zhen planned to distinguish the notice’s figures from trading risks in the next group discussion. The slight increase in the burn did not, by itself, explain why the price had fallen and rebounded that day.