Nobody knows whats going to happen, but when a stock gets in the $1 range, decisions have to be made. Is selling off assets enough?
Although they are not on the list, I am also watching CRK.
This thing went from .12 to .40 with the same debt!!!! All commodities have been sinking, open your eyes. Gold should be the first commodity to rise, but it hasn't. Gold, silver, iron ore, oil, everything down! I'm long and strong BAA, but debt is not the reason this stock is so low.
Are you following the Yahoo target price? Thats worthless. I've seen stocks trading a .50 with a $50 price target. Safe to say it was finally adjusted and never went that high. Don't focus too much on the target price.
Lets look at the overall picture. Between Iran, China, and the NYSE glitch, the whole market went down. Not just FRO.
No complaints though, I love cheap shares!
The deal is this....all railroads have derailments almost everyday, its always been this way. Today CSX for example, likes to blame either the track dept. or T&E for each derailment, its never anything else. They sit back and decide who or what is going to take the blame. Up until a few years back, you rarely saw 100 car tank trains carrying nothing but highly flammable or explosive liquids. Today its crude oil and ethanol, this is now big news when a derailments happens because it involves evacuations. Blame it on the cars or the tracks, derailments have always been there.
Thanks nikkorott, I didn't know the new ticker symbol...lol I take it with a FRO merger, we will see a new ticker symbol here as well? Does anyone know if the value of current FRO shares will change?
Good question, so remember what is said...... INVESTORS AND SECURITY HOLDERS OF FRONTLINE 2012 AND FRONTLINE ARE URGED TO READ THE JOINT PROXY STATEMENT/PROSPECTUS AND OTHER DOCUMENTS THAT WILL BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION.
The word a few months back was that a merger wouldn't be beneficial for current FRO shareholders, lets see what happens, I hold many shares, and mergers can be tricky.
A little each day just like it has been doing. No news, low volume, nothing to support the pps since the R/S. The idea of the R/S was to keep it above $1 for a while. Unless FREE announces something big to catch the attention of buyers, the shorts will bring it down.
For starters, the price of gold doesn't go up for no reason at all. Its usually a good fear factor play when something bad happens. I wouldn't count on seeing $13 anytime in the near or distant future, but you will make money at these current prices. Your best bet is buying gold itself, not so much gold stocks.
The question is, how would it effect current shareholders? Mergers aren't always beneficial to everyone.
rogere, Morgan Stanley put a $3 price tag on this stock, so yes, $3 or even $3,50 is fair value for now. Rates will be a factor for sure. I'm just saying for these posters who really want this stock to run, its not going to happen anytime soon. Then there is the use of the ATM, will it ever stop?
Like I said before, you won't see a chance of anything significant until the next earnings report. Unless FRO announces something big, its regular day trading for a while.