Just saw a 13G filing saying that one major shareholder has reduced his exposure on SBLK by a very big number of shares. Perhaps that was one of the funds with $1 restrictions??? If so, (and considering daily volumes) there might be significant upside in the stock. I'll buy a couple of k taday and see where it goes.
As a savvy trader, I am sure you have been watching the BDI which is plummeting like a rock. This is the reflection of the reduced revenue pool that we are sailing into (12 months). I believe that SBLK will be a survivor, but advise you to keep some powder dry, and not pick bottoms. I own a substantial number of shares in this company, but so far, I have resisted cost averaging. I don't spend much time on this board, but highly advise that you heed the thoughts offered by RADNOC. Scenarios that have previously been discussed, appear to be more likely as time goes on. Also, remember that rationalization is the second strongest human emotion. Don't let it be your guide.