Amazing what one article ( Dividend Channel ) can do to this stock, when the article has nothing to do with ULTR that doesn't even pay a dividend. Hope we get some more meaningless writings to get in at an even better cost, If that is what cause this down turn today. The companies news release of Friday should not of caused this or did it, any comments.
Remmeber, that a lot of quant based buying and selling decisions will still characterize ULTR as ocean-shipping realted, despite the change in its business model and exposure to ocean-shipping rates, which generally weakened last few days.
ISH operates in the Shipping sector, among companies like Euroseas Ltd (ESEA) which is up about 0.7% today, and Ultrapetrol Bahamas Ltd (ULTR) trading lower by about 1.8%. Below is a three month price history chart comparing the stock performance of ISH, versus ESEA and ULTR.
did not do their homework as you say ULTR does not currently pay out a div only a story
I have a feeling that the uncertainty with the US Debt Ceiling is likely causing this stock to move down. If they can't a deal done it's going to cause the bond markets to go haywire.
ULTR depends heavily on issuing debt to finance expansion and ongoing operations. I believe this could severely impact their ability to raise funding and properly service debt if the cost to borrow greatly increases.
I could be wrong and am certainly interested in hearing others thoughts.