SCO Group Likes Its Stock at These Levels

Updated from 10:02 a.m. EST

SCO Group(SCOX Quote) continued to beguile Thursday, announcing a share buyback after a ninefold run-up in its stock price that reflects wagering on its multimillion-dollar legal campaign to privatize Linux.

The technology outfit said it will buy back up to 1.5 million common shares over the next 24 months, believing as it does that they are an "attractive investment opportunity" at current levels. That level was recently $9.50, down a penny from Wednesday night, but up from the $1.09 they touched in February 2003.

"This action reflects our strong belief in the fundamental value of our intellectual property and core business," SCO said in a statement. "We believe we will have sufficient capital resources to undertake this buyback program and continue to pursue our strategic initiatives." ...