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Genco Shipping & Trading Ltd. Message Board

  • masterwallstreet masterwallstreet Aug 28, 2013 12:29 AM Flag

    the shorts dug themselves into a deep hole now

    In my opinion only people let us have some common sense here. This was an overkill with the shorts. On Yahoo Finance they say it shorted 31% and it is probably a lot higher because it has been heavily shorted over the past few weeks. New numbers are coming out next week. They try every tactic too bring it down even BS articles saying that it is worthless. If this stock is so worthless, why are insiders holding 28% of it and they are not selling? Why are institutions holding 48% and they do not sell? Why on Yahoo Finance is there a book value of this stock over $22.00. Look at the charts in the last five trading days. What direction is it going? Look at all the positive news in the past few weeks. Old data is as good as yesterday's news. If you want to go back five years, the sky was falling. We were in a financial crisis. Now it is a brighter future. Why would you short a three dollar stock? You have much more to lose than to gain. If this stock starts to take off it could go up a couple hundred percent due to a huge short covering that could possibly happen due to short overkill.In my opinion only if you go long you could probably make a killing on this. That is my opinion. I am no expert. I am a investor who is loading up on this. I do see a brighter future. There is too much positive news coming out and the market is improving and the economy is improving. Asia and China are rebounding too.All of this is happening . If we get any positive news from the company I would hate to be a shorty shorting this at the time.I ask everybody do your own research and use some common sense. Do not listen to BS articles. If this stock is so worthless why is it going up?Bad shorts bad shorts what you gonna do what you gonna do when the stock rises on you you fool?

    Sentiment: Strong Buy

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    • I am not long or short this stock, but I follow the industry. Here are some things you might want to consider before building too big of a long position in GNK. The most sophisticated investors involved in GNK are involved in the bank debt and the convertible bond. These are large institutions with extensive experience in the shipping industry. In the case of the bank lenders, they have access to inside information. If the stock is so undervalued, why is it that sophisticated investors with access to inside information value the company's first lien debt at 75 cents on the dollar? And if you are bullish on the company long-term, why are you buying the equity instead of the bond? The convertible bond trades at less than 25 cents on the dollar and matures in less than two years. Please keep in mind that if the debt isn't worth par, the equity isn't worth anything. If you are right, and the company is going to make it, you can make more than 4x your money in a short period of time owning the bond AND being in a more senior part of the capital structure (not to mention you get interest payments along with the capital appreciation). If you want to trade and and out of the equity, that's great. You can make a ton of money doing that. But that is trading, not investing, and has nothing to do with long-term fundamentals.

    • Shippers (PRGN SB SBLK NM PRGN EGLA ..) and tankers (NAT VLCCF FRO TNP TNK TK...) should move

1.69+0.02(+1.20%)Nov 27 1:02 PMEST