They sold investors out so large hedge funds would take up positions in EXM prior to announcing the secondairy. why didnt they announce the secondairy prior to earnings.
Yes, there was ample reason to see the possiblity for an equity offerring.
But the reason for that offereing is not because EXM stock is expensive! There is strength in EXM (and other dry bulkers) that reflects investment interest on the one hand, and the huge surge in earned revenues in the sector on the other.
The secondary makes great business and investment sense.
In 2004 alone, the dry bulk sector has raked in $12B more than 2003....a three fold increase.
Only short term traders would be indignant by the SPO. The return on investment through additional ship purchases is huge....30% annual ROI.
Acquisitions are accretive to earnings.... in fact, they are hugely accretive. The expanded fleet of 15 ships will likely earn $6/share during the 12-month period begnning Q2 2005.
EXM currently is trading at 4 times forward 12 months earnings/share. This multiple will expand.
Your missing the boat if you think the equity offer
zhego,why are you calling exm a piss-ant company.i wouldn.t put anything pass cantor they are a greedy money grubing bunch of
If I understand you correctly, you are angry because you can't handle the short term swings of the markets, nothing more.
Cantor IPO's in general are the better and stronger deals.
Cantor Fitzgerald was hit hardest by 911 losing 60+% of its employees in a single day as its offices were just 2 levels above the site of the impact. Yet, as a private broker/banker, Cant took care of its lost employees' families beyond what a normal employer would do, even beyond what it could make in a year.
Carol, I consider your loss, at least short term, was VERY SMALL. I further consider your morale standard is much lower than Cantor Fitzgerald.
Do your DD, the SPO was good news,,,I just don't understand why your freaking shareholders always love to take a loss when the stock is falling, even when the news is good.
I think the answer to your question is inexperienced investors....I see it all over these boards along with seasoned and rational investors.
If you can't stand the heat, get out of the kitchen to green investors.
Learn what investing is before turning your rath on a stock that has a long way up to go and will.