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.
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.
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.
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.