I'm kind of confused as I been monitoring Newlead for several days now and the stock price keeps going down. The only news that I found on Newlead is that a bank approved a loan for 2 big ships shouldnt that be good news?
These stocks sometimes fly up as just as quickly as they sink. NEWL isn't going bankrupt and you'll have to be a little more patient. Don't ask for any advice here because you won't get any kind words from the short sellers. It's been a bad day for most shipping companies and NEWL is not immune from the fallout. Sell for a loss or hold on for the big gain that will come within a few weeks as the ship index climbs higher. The short sellers cannot bash against a rising shipping index, that rising index wipes them out without warning and the index is moving upward. You have to be patient or just sell for a loss if you can't.
Look at the balance sheet. YIKES these guys lose money add debt on top of debt. Look at all the ships that were taken away 2-3 years ago. They OWN 2 ships that are shipping and 1 is ready for the breaking yard. They manage 2 others that they don't own. They have 3 new ships on the way IF and that is a very big IF they pay for them once they are delivered. I could go on for ever so go read the SEC filings. The opaqueness of what these guys buy and own is amazing. Look at the graph of the share price it goes top left to bottom right. This is a day trade or a short, that's it. Ask yourself why does a stock go down after good news. 11 more pennies and an all time low. weeeeeeeeeeeeeee