Power Corp. of Canada CEO Jeffrey Orr is urging investors to buy the dip as the company's shares fell 6% to C$62.50, representing almost a 30% discount to its adjusted net asset value of C$85.77. "Stock's on sale here," quipped the departing executive, noting the significant gap presents an opportunity given the firm's substantial holdings and cash position.

Orr highlighted Power Corp.'s C$2.2 billion cash balance that can be deployed for share repurchases, though he emphasized buybacks aren't solely aimed at arbitraging the discount. The financial holding company has worked over the past six to seven years to reduce the share price discount, which Orr believes should be around 3%.

Orr will hand over the reins to IGM Financial CEO James O'Sullivan on July 1. Power Corp., controlled by Montreal's billionaire Desmarais clan, operates across insurance, asset management, and private equity through subsidiaries including Great-West Lifeco and Wealthsimple Financial. The company reported Q4 adjusted EPS of C$1.36, missing estimates by 8 cents despite a 6% year-over-year increase.