Nuvei, Payfare, Pivotree, Q4 and Verticalscope have all launched normal course issuer bids, or share buybacks, since the start of the year. (The Globe & Mail)

Talking point: Publicly-traded companies often launch buybacks when profits are plentiful. The move improves their earnings per share ratio, by reducing the volume of the latter. But none of the five Canadian tech firms repurchasing their stock this year have posted profits. Almost all of them are down from their initial listing share price, like most sector firms that went public during the pandemic. Financial and technology companies have recently spent the most on buybacks in U.S. public markets, but in the case of the latter, the figures are driven by digital giants that generate billions in earnings. And every dollar spent repurchasing stock is one less for R&D or acquisitions, which puts firms’ future growth prospects at risk.