Lotus Development Corp, whose shares hit $16.25 on Monday, having been as high as $34 in March, has finally moved to put a floor under the price by the dismal expedient of buying a lot of them in: the company says it may buy as much as 15% of the shares outstanding – worth $120m at current prices – from time to time in the market, using some for employee share option and share purchase plans; the news lifted the price $1 to $18; the Cambridge, Massachusetts firm’s cash position at July 2 was $186m.
