"Same rules apply to him.."
Not in my view. That was the point. Nobody here had an opportunity to buy this at 9.
".in ordeer to maximize profits buy low and sell high."
That's a great idea.
Anyway he already sold some, at the IPO. So according to your reasoning he was not interested in maximizing his profit since he could have sold later at a higher price. He sold 2.97 million shares for only a 100% gain. I think he sold a little more later, anyway since the original underwriters exercised their option to acquire an additional 1.8 million shares from the same selling shareholder
But he doesn't "invest" like us.
He bought the majority of his stake before the company become public, and 13 million shares from the bankrupt Lehman Brothers at around 8$.
Just consider Wilbur Ross has probably a cost average of around 9$ (nine dollars), he can't really lose with that.
We on the other hand are on different ground.
What news ? Earnings are next news.
And a new ship coming, already announced.
The stock is cratering but it's hardly a news anymore, also is evident.
Nothing more to add.
More interesting is the silence from all the firms which upgraded the stock in September giving 30+ targets.
A "reiterated" would be in order now, not that I or the people selling here would care.
We are right now around ten days after the IPO, what happened in a year, the earnings grow, the new ships, all it's not existent anymore. It's 2013.
Looks like the company grow will never materialize in this alternate timeline.
Sci-Fi at its best.
I imagine today it's not making you feel any better #$%$ right now).
The steepness of the descend is really incredible, it's probably -70 degrees.
And yet we had a 3x volume day the day it broke 30, but then it didn't pick up.
It's unusual with a chart like this.
I look forward to the next week action.
The rubber band it's really stretched, but with lightly traded stocks can be stretched beyond the logical point, that's why I allocate gradually in stocks like this (and trade them at the same time when they bounce).
Until we get a couple of convincing up days separated from some neutral days, there is no real end in sight.
Yes, and it's somewhat lightly traded, so it can easily waterfalling down as it's happening.
The fact it's bouncing back a good percentage almost every day suggests daily shorting with daily covering (easy money in a waterfall) or someone exiting a position with someone else seeing this as an opportunity to add to his position, or a mix of the two.
In any case, doesn't matter very much to me.
Consider the IPO was at 19, consider it was below 26 yesterday, consider how the company has grown, and consider future projections.
Even imagining a slow growing year it should get 1.32 in 2014. At the current P/E, after the waterfalling, that means a price higher then 30.
Hope it's going further down... but it's getting more difficult any passing day.
35 it's just in one year, in two years if nothing bad happens could be 48-50.
But it's too early to reasonably talk about that with confidence.
For now, 35.
And I quote:
Yesterday I was simply looking at the chart the same way I did in the past, and thinking a move to 0.90 or even 0.85 would fit it well (H&S-ish formation, (1.29, 1.37, 1.18)"
Let's add it to the list.
CFO Roger L. Smith sold 57,321 shares of the stock on the open market in a transaction dated Thursday, August 28th. The shares were sold at an average price of $1.08, for a total value of $61,906.68. Following the sale, the chief financial officer now directly owns 105,115 shares.
Yesterday I was simply looking at the chart the same way I did in the past, and thinking a move to 0.90 or even 0.85 would fit it well (H&S-ish formation, (1.29, 1.37, 1.18)
Ur-Energy (NYSE:URG) CEO Wayne W. Heili unloaded 85,100 shares of the company’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $1.07, for a total value of $91,057.00. Following the completion of the sale, the chief executive officer now directly owns 208,778 shares in the company
Director W. William Boberg sold 97,143 shares of the stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $1.06, for a total value of $102,971
He can afford to throw shares away at the low of the stock, he just have to exercise some options to re-integrate his quota.
Et voila', easy money.
Considering this is underperforming 88% of all the stocks in nyse / nasdaq / amex looks like a good idea to me. I don't know why you should stay in the bottom 10% of stocks going nowhere instead of the top 10% going up. (I sold at 1.80 on Feb 26, 2014)