I would like opinions about it. It is so cheap and STP made a little come back....when you get the stock this low...it is to double your money. They are predicting the shipping rates will start to increase towards the end of 2013. Do you think EXM can hold out that long? Or should I buy DryS
The company just got a letter today of non-compliance from the NTSE for not reporting in the correct way on Form 20 .The reason given for not doing so was Due to restructioning discussions with it's lenders well as investors and strategic partners . With holding information is not a good sign .And the information for the end of last year is set in time and not changing .It has nothing to do with what they are doing now . The bad thing is the NYSE is giving them 6 more months to keep doing what they are doing . When will share holders get real information is any ones guess . The other 2 shipping company I have are reporting on time .
I think this is probably a little better bet than buying a lottery ticket. However, I wouldn't bet much on it. The problem is that nobody knows if it will recover or go belly up. This makes it a ripe field for people to scare people out of their money. All it takes is on guy hinting that the bankruptcy proceedings have begun and the stock will lose 50% in a day. If you have a small bet placed, it is no big deal, but if you are overextended, it will give you some sleepless nights if not worse.
As much as it pains me to say, I would avoid this stock until further news concerning its debt issues. However, the price is attractive as a speculative investment if you're willing to take a chance. IMHO...