Imo fundamentals are only part of the equation. I mean anticipation and progress all point to a direction and correction in the market including the pps. Why not allow the correction (fare market value) to take place. If money is needed by the company through dilution then atleast less shares are hitting the market at a higher pps to get what they need while maintaining a sustainable pps. In the end less shares hitting the market means less shares to buy back at an equal or slightly less pps evaluation. It is the same either way. Either way there are only two good reasons to do this and that is to buy shares cheap doing the buy back or they are planning to merge or be bought out by someone in the future.