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Genco Shipping & Trading Ltd. Message Board

  • wall.stguy wall.stguy Jul 26, 2011 10:17 PM Flag

    GNK merger or takeover target?

    Any chatter of a merger or takeover target? Cantor, Wells, and Deutsche all downgrading when GNK is less than $6.80, yet they were fine when it was $7, $8, $9, $10, $11. Are they just late, or are they trashing it to reduce the price even further so their clients and country club buddies can accumulate before some major news or pop in price. I never understood how these agencies cut ratings well after a stock's price tanks; they are crooks. GNK is not a good investment at $10, but at these prices, it is a steal. Dry Bulk is not going away.

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    • "GNK is not a good investment at $10, but at these prices, it is a steal."

      Funny, people have been saying that all the way down. As GNK falls, it doesn't seem to diminish its attractivness because people are always lagging on what factors are dragging this stock down.

      Two months from now people are going to be saying: "Of course GNK was overpriced at $6 but who could lose money buying in a $5/share?"

      • 1 Reply to winomaster
      • ""Funny, people have been saying that all the way down. As GNK falls, it doesn't seem to diminish its attractivness because people are always lagging on what factors are dragging this stock down.""


        I guess those people were wrong, but at the moment I am not. There has to be a bottom at some point, and unlike the horse & buggy and the typewriter, dry bulk is not going out of style. This is a long term trade, and buying at todays prices can yield 30% to 80% in the next couple of years. Not sure where you are going to find a return like that. I remember in the late 90s when oil stocks, including drillers and services, were beaten down just like the dry bulk industry today. I said, "is oil really going out of style.....no." Guys like you said "you have to understand the factors", as tankers sat parked and were being used as storage. And I bought. Those stocks tripled. You buy into an industry when it is beaten down, not when it is high, and you hold long term, not a day trade. I think at todays prices buying a basket of drybulks, with GNK included, is a fine long term investment. You can argue, but only time will tell.

    • A major Coal Loading dock is planned for the west coast, currently being litigated by the environmentalists, but once it gets built, 100 train loads of Powder River Basin Coal per day will load up for Japan and China.

      China still building coal fired power plants. Japan shut down 14 nuclear power plants for safety retrofits, will need a lot of coal for the next 3 years.

      We'll start to see the impact soon on the share prices.

 
GNK
1.700.00(0.00%)Apr 21 4:07 PMEDT

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