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.