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Star Bulk Carriers Corp. Message Board

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  • wg242 wg242 Oct 15, 2012 8:00 PM Flag

    The sword of Damocles

    I was going to buy but "Reverse Split" is a sure sign of a dying company.that can't make it.

    Sentiment: Sell

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    • Not always the case, although certainly is many times the case. SVVS was below a penny before their reverse split after which it eventually got bought out by CTL for about $40. Not saying it always works out well, but it does at times. Unlike other companies, SBLK does have some assets and long-term contracts, and not much market cap- so it has a chance to weather the storm.

    • Should of sold last month when I was considering buying more but didn't and lost more.. So I got out on a market sell to lock in all my big losses two days ago. I just don't see SBLK anything but a loosing bad investment. The next thing to me seems to be an offering to raise funds for SBLK. which would be more bad news for us.

      Sentiment: Sell

      • 1 Reply to wg242
      • SBLK was my first shipping stock. I bought in 2007 at 14.20 ($213 pre-reverse split). I traded down to a cost basis of 7.43 ($111 pre-split) and sold out between May/August 2009 at an average price of 3.50 ($45.75 pre-split). It was clear then that SBLK, with an older fleet and poor management, would not be a player in dry bulk; but, having caught the shipping bug I have owned many, mostly better shipping stocks since then. I have lost some on crude tankers (TNK) and not every trade goes my way, but I did start to appreciate the importance of not trying to fight the shipping trend, which is all about the size of the global fleet, and not much else. I have prospered some on dry bulk but mostly on LNG shipping. My on-the-water holdings now include GLNG, GMLP, GLOG, TPG, TOO, SFL, SDRL and SB (re-established a position last week and added today and yesterday). And it all started with SBLK.

        My advice on SBLK is sell, now. Can it recover? Maybe. Can pigs fly?

        Moral: Learn from your mistakes. Take your losses. Salvage some capital and look for the next opportunity. And, remember the old saying....

        Good judgment is based on experience. Experience comes from bad judgment. It happens to everybody.

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