They're going through BK, but their enterprise value is over a billion dollars. At their current pps, they're needless to say trading WELL below that (10-20 million or something). They're trading below both cash per share and book per share (.30ish and .50ish I think). BUT, that's all old info (except for the enterprise value ... that's dated today). The BK makes it hard to determine what's really going to happen, but it was up yesterday when the other shippers were down, so I'm wondering if anyone knows anything about its actual value. Just an innocent question. Don't get all crabby on me.
That's been my experience. If for no other reason, I think I'll be adding to my position in FREE instead of buying EXMCQ. I was considering buying some, but there are far too many unknowns when I compare it to FREE. I believe Hanover is the primary reason FREE is down in relation to the other shippers, and that issue has been resolved. Also, overall, the entire BDI has been crushed since the crash in '08-'09 and it looks to be turning around. If I'm right, FREE could end up being a 10 bagger in less than a years time. I know how crazy that seems, but it's what my gut, the market and the numbers are telling me. GLTA.
possible something happening in the court that giving some favor to the common holder. I remember AAMRQ run from $0.36 to $10.00 and it's still in BK. Who knows what for EXMCQ - but when MM wants to move it higher, then there is some reason.