This is what happens when the corporate buyback bonanza bursts. If the CFO loved it at $116 - which is Monsanto's average stock buyback stock over the past 5 years - he'll love it at $84.
Monsanto spent $7.1 billion on buybacks in Fiscal 2014 at an average price of $115/share. MON stock is now $85, a -26% return— zerohedge (@zerohedge) October 7, 2015
Time to borrow some cheap money to fund more buybacks. Oh Wait!!