Google surges after buying back billions of dollars of its own stock

2 comments

1. “Alphabet, the parent company of Google, bounced back from an absolutely dreadful day for tech shares, as its stock surged Thursday after the closing bell.

   All it had to do was to hand out billions of dollars to investors.

   The tech giant announced its first quarterly cash dividend, saying it will pay $0.20 per share on June 17 to shareholders of record as of June 10, as well as a $70 billion share buyback.

   Buybacks and dividends help to boost stock prices by rewarding investors with cash just for holding the stock — but they’re widely criticized for

   artificially inflating the stock price without spending on employees or improvements to the underlying business.

   Google’s stock jumped as much as 13% in after-hours trading following the report.”

2. this is what we call fraud, in the real world. Thanks to ronald regan and his trickle down bullshit, his deregulation of industry and making stock buy backs legal. Step 1: buy your own stock. Step 2: artificially inflate the apparent worth of your corporation. Step 3: crash the economy when you fly first class to DC to beg for taxpayer money to bail out your own bullshit. How many times are we going to keep letting these corporations get away with this? Until they make a situation that money alone cannot solve, and by then it is too late.