Well, this is an investment for a long term, not for days.
The future looks great for shipping as the BDI is moving up steadily.
Look farther ahead.
That's what investment is all about.
Buy when it's cheap.
I was wrong about further upside from $1.20 (pre rights offering)...
I thought they would raise the dividend: They did.
I told people to sell immediately after the rights offering if they weren't going to exercise their rights: They should have.
I said the stock should get closer to 70 back when it was trading at a buck: It has.
...What record you are talking about?
The items I listed in my last post are not speculation. Just like the supply issue you site is not.
Speculation is what those items bear on the current situation, and in that case, we are both taking part.
So. Good luck: hope you get your 69 cent share price... EveAssuming you even plan to buy there.
As I said, I could care less what the stock does in the next week. I couldn't get out of my position at current pricing even if I wanted to and I fully believe the dividend will be paid out for 2012, meaning I am gonna get at least a 10% yield on the MV of my current nut. If you care to speculate to the contrary on that, I am all ears (but you are going to have to provide a pretty robust argument - which you haven't been able to do).
You are assuming demand hasn't kept pace with supply.
I'm not saying you are wrong, I am just saying it is not as simple as you imply.
I'm still betting, for argument's sake, that we won't see 70...
But frankly, I don't really care. Earnings this PM and a guaranteed yield should drive up the price soon enough.
The price target is over $1.00 for the stock. On yahoo there was news that a brokerage set a price target of about $1.50 after the rights offer was announced. This was a reduction from the old target of $2.00. I could not find the article so it could have been in error or not an official news release. The rights offer improves the finances of DHT and it should set a higher valuation. Book Value will drop with the dilution, but the stock should trade closer to book value. The dividend yield might go down to 7% to 8% my guess for typical safer high yields. So a a range of $1.00 to $1.10 is likely. Hang on for a wild ride as the dumping for the quick buck goes on for the next few weeks. It might be bargain time again, but not as good as the rights offer.
The lack of selling volume bodes well for price increases as DHT has a liquidation value above $1.00 and it is going to look pretty nice seeing $102 M in cash on the balance sheet with the stock selling under $1.00... just watch and wait a few more days...