$JPM
Added 2024-05-20 18:10:47 +0000 UTCJamie Dimon has explained today that he believes $JPM should not buy back any shares at these elevated levels.
And of course this makes sense.
Price has run from $101 to $200 since November '22 to May '24.
Why would a bank buy back shares touching on ATH's.
One of my main issues with share buybacks, is that I see it as a last ditch attempt to safeguard a share price.
That being said, there is still another 10% on the table here with $JPM to go higher before it declines, which is closely linked to the markets movement.
So Dimon has identified that a pull back could be due next and he would consider buying back then.
Making $JPM even more attractive after it completes its Wave C pull back. $142, being the sweet spot on the 0.618 Fib.
Comments
Thank you
Steven
2024-05-20 18:27:18 +0000 UTC
