callith, it depends. If GSL was seriously weakened in some way to only support a $0.20 dividend when they decide to reinstate, then the stock price would probably not move much from its current state at $3.50
I understand your point in questioning my logic to come up with the $4.40 basis for short term stock appreciation. I admit it has flaws, but I was just trying to be conservative in my hope for what will happen to my GSL investment. I'm expecting GSL to continue to *improve* its finances and pay off debt and continue to generate cash. If they continue to execute and do what Ian is saying, then I think $4.40 would be a conservative "floor" for the stock price in Q1 2012. If people think I'm an idiot for typing this, then so be it. Wouldn't be the first time.