1 for 8. must have thought they'd be a $5 stock. But now a $3 stock. Nice going DCIX. What a surprise, eh. Who could have guessed they'd crash after a reverse split.
Been trying to find shippers that will survive. Hard to tell... so many are playing all sorts of tricks. Maybe the ships and names will survive but looks like shareholders get taken. Just look at FREE or tons of others. Seems totally crooked, surprised SEC lets them get away with this stuff. Just circled back to look at EGLE, wow, what a wreck. Sorry to see this #$%$. I wouldn't touch this stock with a 10 foot pole. Crazy.
Hey DCIX mgmt, check out PRGN. Did RS today, lost another 33% immediately. Should have been $2 today, ended at $1.12. Probably be under a buck in another day. RS is BAD news unless you have already seen things improve. Don't do it. It is a weak mans game.
PRGN just did 1 for 38 RS to get over a buck. Yesterday it was $1.78 adjusted, today $1.12. May only live 1 day over a buck. Looks like a great move. Really, just quit trading for a year while things are nuts -- but don't kill self. RS will cut stock in half almost instantaneously. They'll never learn.
With the situation in shipping looking so hopeless they can probably get shares even cheaper if they just wait. Maybe nibble here and there just in case something good happens but wait for the insane 25 cent pps or maybe less. But geez, I sort of wish I was watching today I would have bought some around 50 cents. Just crazy.
Looks like Bodouroglou really wants a reverse split. Says lenders may require it and shareholders appreciate it. Mike, in case you don't know, reverse splits are really bad unless your business is picking up and things are looking better. Really, check history of others. You will lose over half of the little shareholder value left instantly with a reverse split and never get it back if you do it when times look bad. Just ride it out and figure out how to survive without jerking with the stock anymore.
News looks about as bad as it could -- and doesn't even look like any bets being placed on potential survivors. Across boards wipe out today dry bulk, containers, etc. SB, NM, EGLE, GNK, TEU, DCIX, many down 10 to 25% and more just today. Hard to imagine all shareholders in all companies will get screwed but it's kind of looking that way isn't it. Don't know if there's anything worth investing in. Anyone know any shipper that may survive and reward an investor?
Relax, you're making things up. People retire and don't start drawing pension right away. People define things differently; to most retirement means ending employment after being fully eligible for any retirement benefits. This guy says he got a lump sum. He may have received more over his lifetime if he took it monthly. So what. Lots of people got lump sums.
I can't image Global .v. Capital could make any difference for the next 6 months. It's not like we're trading AAPL here or anything. Buying time is better than a RS. These penny stock shippers RS and immediately go down 80%. Crazy.
I'll never figure it out. Will just have to wait and see. I remain amazed that 13M of the 18M float is short. If Eddie and Bruce aren't short, too, through some odd ball arrangement then they could create a sensational squeeze. But that doesn't seem to be in the cards. Many people expect BK but that doesn't seem to be in the cards either. I just don't get it.
I've used the 'option' logic before. Only problem is it'll probably be selling for equivalent of about 6 cents a share after likely reverse split. Good luck to you; hope you're right and you make out. I'll wait and maybe check back in a couple months..
Not sure if they made any money off that ship in past couple years but they could have got twice the price at the scrap value a couple years ago. Metals all way down now. Wish shippers scrapped more aggressively a couple/three years ago. Things would be a little better now.
The equity sale just lost shareholders 30% of their money short term and probably provides them with another haircut upon reverse split. Pathetic. Truly pathetic.
No doubt. I've been trying to think of a single thing mgmt. ever did to enhance shareholder value but draw a complete blank. They have made many many moves and all were at expense of shareholders. Create TEU by splitting off assets - $0 for prgn shareholders, other asset sales, dilution, dilution, reverse splits, you name it. Very disgusting track record.
If there is any manipulation it's just traders trying to shake out the last final longs that have held for years. Other shippers getting whacked just as bad or worse. Pathetic. Shippers never recovered with other transports; still too many ships I guess; China, Greek mess, etc., etc., never seems to end. Starting to seem totally hopeless. I think that's a good sign finally.
Funny. Totally agree. But don't worry I'm plenty diversified. I just keep some shares for old times sake :)