I don't think I understand your comment about Cantor and institutions going short. Actually there are not many shares short this stock if you look at key statistics. And I truly doubt institutions have gone short the very shares they purchased? Doesn't make sense does it?
As for earnings, you are right that they won't start showing up until 3rd quarter. But again, you purchased shares before the company even added these ships to their fleet?!?!?
And risk: why would EXM sell their shares at the all time high of $65? And why would an institution buy the shares that high when it was a craze that drove the prices to that height? I think it only makes sense to wait until now to purchase. This is the bottom. At least I do hope and believe so!!! Any ways, I am up on this stock but am trying to understand others opinions also.
Morgan Stanley Dean Witter, Credit Suisse First Boston, Seneca Capital, Duetsche Bank...are these all rank amateurs? It seems these big names are just some of the institutional investors of the company.