If you short the stock and make a ton how will you then sell the calls you bought and make a profit?
Seems like you're pulling in opposite directions...
Filing yesterday granted management the option to declare 25% of their bonus as an RSU that would vest after one year. The amount, up to 25%, will be multiplied by 2.5 and then divided by the share price on the day the bonuses are paid. See the SEC filing from Friday 1/9.
(that should give us a glimpse of what insiders really think...)
Angeliki just mentioned this morning that the day rate on the spot market is currently around $76,645 /day - almost a 30% difference to McQuilling...
The article only refers to the preferred shares that they established this year, not the NM common shares themselves. Check the articles on that issuance from around June of this year if you need the background.
Dividend still intact here - and NNA... and NMM...
Easy there ben hoss - you were the one who busted in upstairs there with invictives, quotes, and exclamation points - hardly conducive to easy conversation...
Beside, good conversation is two way - I notice you weren't interested in why I bought more, but rather just making your case against current management - okay.
A 6 million share increase in short interest since June has indeed had an effect on share price. And right now, I don't think that is the best position to be in. It may have worked thru uncertainty and declining news out of China, but lore interest rates coming there should provide some juice.
I'll stay long, and Kool-Aid free...
Whale Wisdom shows 39.7 million shares at the end of June for 13F filers and 40.2 million for he end of September.
That's as of today, and all filings were due 11.14.14
I posted the charts over on InvestorVillage because Tahoo would not allow it here. You can see the bi-monthly increase since June and lay that against the share price.
Also can find at NASDAQ site and the 13Fs at Whale Wisdom. Fairly easy to follow both.
It was 25,000 back in mid June, and as of the end of October it has risen to 2.5 million. It's only 3% of the shares outstanding, but thats a big move in sentiment by someone(s).
Same is true for NM - from 968,000 to some 7.2 million shares short over the same period. That brings their portion to 9% of the shares outstanding.
Those are significant moves...
And maybe the future...
As of mid June it stood at a paltry 968,000 shares. Since then it has risen to some 7.2 million shares at the end of October, and around 9% of shares outstanding.
Hard to imagine that lasting...
Yeah, all well and good with the share count, but how many shares are really available to be traded?
With all of those committed holders, what is the "effective float?"
Falling crude prices - someone was caught swimming naked when the tide went out.
(but good for those who use crude as a feedstock...)
Here you go:
Submission of Matters to a Vote of Security Holders, Other Events
Item 5.07. Submission of Matters to a Vote of Security Holders
On October 30, 2014, the Company held a Special Meeting of Stockholders (the "Special Meeting"). As of October 1, 2014, the record date for the Special Meeting, 85,094,640 shares were issued, outstanding and entitled to vote. At the Special Meeting, the Company's stockholders approved amendment to the Company's Certificate of Incorporation to increase the number of authorized shares of the Company's common stock, authorized the Company's Board of Directors to amend the Company's Certificate of Incorporation in the future to effect a reverse stock split and approved the Company's 2014 Stock Option and Incentive Plan.
The final voting results on these matters were as follows:
1. To approve an amendment to the Company's Certificate of Incorporation to increase the number of authorized shares of the Company's common stock, par value $0.01 per share ("Common Stock") from 100,000,000 to 250,000,000:
Votes For Votes Against Votes Abstained Broker Non-Votes 76,228,882 2,998,475 218,040 153,361
2. To authorize the Board of Directors of the Company to further amend the Company's Certificate of Incorporation to effect a reverse stock split of the Common Stock by a ratio in the range of 1-for-2 to 1-for-10, with the Board of Directors having the discretion as to whether or not the reverse split is to be effected, and with the exact ratio of any reverse split to be set at a whole number within the above range, as determined by the Board of Directors in its discretion; provided that the reverse split must be effected, if at all, no later than December 31, 2015:
Votes For Votes Against Votes Abstained Broker Non-Votes 77,085,271 2,341,486 171,997 0
3. To approve the Company's 2014 Stock Option and Incentive Plan:
Votes For Votes Against Votes Abstained Broker Non-Votes 62,992,217 2,004,232 170,785 14,431,524