Rumor hath it that Nexon is buying up the cheap shares. This could get interesting if true.
Sounds like they want a controlling interest
I don't know if it's true or not, but when a stock tanks like NCsoft's has, it's actually not unusual for a company (or its investors) to start buying back stock at a higher price to make it look better than it actually is. That
could (not saying
is, because I don't know) explain why they've had some positive bumps the past week after pretty steady decline.
However, it almost never works to provide long-term stability. Either they managed to buy back most of their stock to the point where it makes them look really bad, or they run out of money to keep buying and have to stop, sending the stock plummeting again. Some
really big companies can afford to do it for a while until whatever financial hurt they're in passes, it helps to give their investors faith in the company's ability to weather storms. If Nexon is doing it for that reason, I can't imagine that it will end any way but badly.
Or The Fifth Horseman could be right. They could be doing it to make a play for controlling interest. If that happens, well, I'm not sure we'll be in any better of a position that we're in now dealing with NCsoft, but it almost certainly would mean management changes and different people to be targeting for communications.
Or the opposite could happen. If NCsoft's stock falls much more, it could spook Nexon to the point where they just want to dump their shares while they still can, cut their losses, and go their merry way. If
that happens, NCsoft has some
very hard days ahead of it.
In any event, they really could have used some positive PR right now, they aren't getting it, and I really do believe that we are making a difference.