There is quite good volume with GCM, as Glorieux pointed out. Liquidity is always good for a stock, if not combined with a big drop in price. On the other hand, we have to realize that a share buy-back program would support the price whilst in place. And nearly 40M shares is a considerable amount to support the price. /// Another point would be, why they spent money for buying-back shares when they have to arrange debt facilities to finance their business plan ? Debt vs. share buy-back ? /// FANTOMAS