Some analysts are saying there is a 60% chance of a recession next year. Even if there isn't, it's going to take 3-4 years before the glut of ships are worked off. And then, with the widening of the Panama canal, there is the question of if the small ships of NMM will be leasable. And then there is HMM and Hyundai. No one even knows yet what kind of a hit that will be.
So my question would be - why the rush to buy now?
How did you know there was blood?
A well-known Greek shipowner shot himself dead over the weekend.
Kyriakos Mamidakis was found dead at his home near Athens yesterday with a gun by his side, local police said.
Mamidakis, 84, had recently sought court protection for his firm Mamidoil-Jetoil which had debts of EUR314m. The fuel supplier had seven ships covering the Greek islands and the Balkans.
Perhaps MS knows that CMRE is going to again have blow-out earnings. They have now loaded up @$7.50 and then will unload after the earnings pop @$10 for an easy 25% gain. We'll find out in a month I guess.
Does seem fishy. Still I had to bail with a penny gain. One can't fight the manipulators and win. However, if they don't cut the dividend when earnings are announced the price should spike.
Thanks. I guess that explains the drop. Giannakoulis has already got his $7.5. If they don't cut the dividend this quarter as he is predicting the stock should soar. Seems silly for an analyst to be predicting such a huge cut to me.
No news and other shipping stocks aren't selling off. GSL is only down 1% for example. I guess some fund could be determined to exit the stock this quarter and this is the last day to do so.
My hope, since I bought today @$7.50, is that a computer ran the stops today under $9 and the price will recover later on today.
I stand as accused - "basher" "negator" "hater" - so please go away!
Why are you still here?
To continue to protest against the "pumpers" who have advertised that things are great as the stock price has fallen from $20 to a dollar - a 95% loss!
Could there be an over 1500% bounce - look at PRGN!
Who knows when an organized short squeeze could hit - see BSPM for example.
NMM could be a spectacular trade this year - no way to know.
But what about a fundamental long-term trade ... no hope yet.
BDI is 640. What does that mean?
Today we had a real time update - SBLK lost $1.11 a share this quarter, although they were able to spin that down to only $0.87.
NMM isn't going to be able to do any better.