They pumped the stock up ahead of the bad news. We're talking about a couple days of very suspicious price activity/gains right before announcing the problem with Zim charter payments. The SEC even asked them about it.
I sold today based on this shady behavior. Had bought at 3.42, sold at 5.07. Not burned, hardly...but disgusted. I refuse to have my money in a company that pulls this kind of blatant crap.
dave..., Every company on the NASDAQ and NYSE does the same thing. That is why there are very few successful day traders. Best to buy at a good juncture and just leave it alone to let it do it's thing. I can promise you that if you look backwards two years from now, you'll wish to Heavens above you had kept DAC at $3.42/share.
LOL, yeh, I was long on DAC too before they pulled this crap. There are lots of other shipping stocks out there at bargain prices still. But you go ahead and tie your fate to DAC...have fun...look at the 6 mo chart while you're at it.