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  • mccorkmick mccorkmick Mar 16, 2005 1:10 PM Flag

    Mr. mccorkmick

    this is ure mssg, i dont see anywhere a quetion addressed to me...

    by: cthescot1 03/16/05 11:55 am
    Msg: 6864 of 6880

    I am wondering if the underwriter is required to support the stock price by buying at some price and if so to what extent.? Also the announcement to my understanding was to the effect that the company has sold 5.899 million shares to institutional investors at $ 21/share US. Does anyone know who these buyers are? It would seem to me that prior stockholders would be privy to this information. Anyone know? Your comments appreciated. My thoughts in the matter is that with uncertainy out of the way to some extent regarding the New Offering, the price of the stock would move up. On the other hand we may be on the edge of a bear market. I like the dividend idea as postulated by pla_tow. But Platow and I do not run the company.

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    • Thanks for your reply. I believe you look at all posts and I have have guarded respect for your knowledge. I know that you know and was just troubled why you did not respond. No offense intended.

      • 1 Reply to cthescot1
      • Listen, i understand why you may be feel upset. personally, having been a part of the process myself, am pissed to hell with the way cantor handled the situation- personally i feel all ibankers are hores and woudl sell their grandmothers given the chance. that said, the deal was neverthelss accretive and will add shareholder value. ive been holding and accumulating exm for over 9months now and have not sold NOT A SINGLE SHARE BELOW 40 and do not anticipate selling in foreseeable future at any price below 40. i bought this for its growth when they had fleet of 5 vessels. now that they have finally gone though the painful process to get in postion to realize that growth - ya gotta be crazy to sell out now! as the executives made clear throughout the show, they earned 2.75 pre share which is more than most companies with double their fleet size and newer vessels earn (industry records/stats provided) ... the company has historically been effective at getting the mst out of second hand vessels and realizing very high returns on investment.... i thnk the next yr will be very very interesting..
        a stock that will more than double its equity in the next year and a half could only trade at 7-8X trailing eps for so long. be smart, be disciplined, be patient and uwill god willing be rewarded... all my detractors rem how i URGED all not to overextend and purchase exm with margin- i was unqualified in my support for exm and still am very bullish (in fact more now than ever bfore) yet i always gave qualified buy rating with respect to overextending ureself and exposing ureself to its volatilty. at least half dozen tiems i concluded with sucha please everyone who has called me a pumper etc ...enough ok

    • They are not required to suport the stock price but almost always do, or nobody would particpate in the next far as who bought the secondary...could be anybody..funds most likely....also if you are short a stock before they announce a secondary you are able to legaly cover on the secondary.