comment: >
  
  Wait wait you mean a company shouldn't be allowed to buy back shares and then reissue shares and then buy back shares and then reissue shares and then buy back shares
context: Their stock price jumped 20% after this buyback was announced. Meta laid off 11,000 employees in November and has hinted at more layoffs in the future.
  Just a reminder that stock buybacks were illegal until the 80’s under Reagan
  EDIT: for some quick math, if you include the $28 billion stock buyback Meta did in 2022, that means Meta spent roughly $6.2 million in stock buyback per employee laid off. >
  
  Sorry for dumb question but... what does a stock buyback do that raises stock price?
  Is it they're saying they'll buy X amount. So that pushes price up even though they're losing a ton of money, thus creating a sort of false image of being more valuable than they are? >
  
  Companies have a value. Let's say $100. Companies have a number of shares outstanding, let's say 10. Therefore, the company's share price is $100/10 or $10 per share. When a company buys back stocks, let's say they buy back 2 of their 10 outstanding shares, now there are only 8 outstanding shares, but the company 'value' hasn't changed, it's still $100, so now, $100/8 shares = ~$12 per share. The price went up 'naturally'. >
  
  Thank you! >
  
  And again
  This was considered stock price manipulation and illegal until the 1980's
  making it legal was part of the GOP's "free market", deregulation, "Reagan Revolution"
  It was a CHOICE to allow this
  it didn't "just happen"
  it is not "natural"
  and we can CHOOSE to do things differently