Share buybacks
Been thinking about this after $DOCS announced share buybacks today. A fast growing small cap business, an year since IPO, in a slight turbulent market environment. I'd say I'm not impressed that they felt the best use of their cash currently is to buy back shares. Growing 40-50% and they didn't want to use that cash to fund growth? Keeping some cash on hand to bolster the balance sheet might not have been a bad idea either. Buybacks are cool but as a shareholder I'm not ecstatic.
What do you guys think?
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