I have lost a ton of money on FRO. I am very bitter and spend all day here clutting the board with off topic political talk using many ID's
Yes, I missed the 30% run up but seeing I am down 80% it does not matter
I've been out of FRO for a month or more; "pigs get slaughtered" and all of that.
Yes, I missed the 30%. But there is no business justification for the run-up. Which is probably why Wells and Jeffries have the price target in the $4 range.
And... someone posted that SFL was the likely loser. Quite the **opposite** if the charter arrangement referred to in FRO's Q4 earnings release was in regards to charter ins from SFL. It would be SLF, rather than FRO, that would benefit from the increase in rates.
Do READ FRO's Q4 earnings announcement. The details are listed therein.
Cause They want to buy at $4
Plus they do not understand like most what the restructure will do for FRO.
Forget the rising Day Rates
Would say Wells just does not get it
Since when do banks upgrade or downgrade on specifically what traders do on random days? If the stock had been trading at $8-9 for a month or so, I can understand getting a downgrade...but WFC sent out that press release as soon as the price went up, as if they didnt want the price going up. Or perhaps they wanted retail investors selling so they could buy into it.
The report says the short squeeze has taken the value "well beyond sustainable level".
Estimates NAV as a negative value; -4.29 per share.
It puts reasonable valuation between $3 and $4.