According to my calcs, PRGN best buy at the moment
be prepared to watch this stock suck for awhile longer ...
I sold off a different loser (JASO) for tax purposes this morning, briefly considered putting it into PRGN (dollar-cost-averaging) and then put it into STD instead. At least with STD, I *know* it will go up in the next 12 months (and if not, then I get paid a 10% dividend to hold it). IMO PRGN will not move up until there is significant consolidation in the shipping industry and the oversupply of ships is fixed. That's probably 2 years out.
What is the point of waiting to invest in shipping when everything is looking good? Prices will be 4 times higher by then... I believe that the time to buy is when things are looking ugly, and then get that 400% return in 2-3 years.
1. Market cap of PRGN right now = Cash on hand. 2. You get TEU investment free. 3. You get ships free.