I hate when something like this happens and I don't understand it. OF course, this is why I generally only buy a small amount of a stock...it forces me to better follow the Company, and to understand (or at least realize that I don't understand) how to make money on the stock.
What I don't understand is why dilute the Company by 10% at such a low stock price? With recovering (but still depressed) shipping rates, surely waiting a year would have brought a much higher stock price (maybe even $10?) I don't see any ruch to acquire new vessels...this market is waiting for the scrapping of old vessels in order to balance supply and demand. Therefore, there's no rush to build new vessels. So I don't understand why this stock offering was done at this time, and at this price. I sure hope it's not to maintain the dividend, because then we have a Ponzi scheme.
CMRE, looks to be overvalued at this price Im not sure about you guys but awesom-eSTOCKS has provided me with some pretty good trade ideas. I messed up executing some of them but thats on me.
This stock is being manipulated by someone. It swings like a biotech. Stay long my friends.
Is this really not moving AH? This might be the most under-the-radar stock out there. Love the way they're headed too.
Earnings look good. Beat by two cents (.21 vs .23) but missed by a couple million on revenue (who cares).
Big news is they chartered out all 5 of their newbuilds. 6 weeks ago the rates for those were around 8,000 per day...up to 18,000 now. Smart move waiting to pull the trigger...one of the advantages of a solid balance sheet.
The question I would have tomorrow is who decided on the 12 month term? Us or them?
By the middle of next year it's expected that the container rates will move back to historical norms. My guess it was us that picked that 12 month number.
''The Company has entered into time charter agreements for all five 11,000TEU newbuild vessels acquired under our JV with York Capital. The vessels have been chartered for periods of up to 12 months at an average rate of about $18,000 per day. The first two vessels, the Cape Akritas and Cape Tainaro have been delivered to their charterers and have commenced operations. The third and fourth vessels, the Cape Kortia and Cape Sounio, are expected to be delivered to their charterers during the first week of May 2017, while the last vessel, the Cape Artemisio, is expected to be delivered from the shipyard and to her charterers during the second week of June 2017. ''
A Yahoo! user
Why is this rising so quickly today? I luv it, but something good must be going on.. no news yet
A Yahoo! user
Good report.. things firming up.. statement looks like it was easy to lease out their ships.. good demand. There might be a large spread in after mkt.. dont know.. that could explain lack of trading activity
DAC might be being accumulated as well.. same industry
Hang on to your CMRE, container ship rates have recovered 30% this year. It hasn't been this high in 2 years.
The 11,010-teu Cape Akritas is fixed with OOCL for 11 to 13 months at about $19,000 and another 2 new build 11,010-teu ships. CMRE has rent out most of its ships.
The chart looks a little scary for me right now, I like this play long term, but I think we have some short term pain still to go. At the very least a retest of the 52 week low, and depending on news could be 5-10% below that. The turnaround is still 4 or 5 quarters away imo. But we all know what opinions are good for....
I'm. 8x this years earnings, BDI moving up what am I missing?
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If CMRE pulls back then it perhaps won't be a surprise given the current neutral RSI of 58.90. The opposite could happen though. Yo you should really check out awesomeSTO-CKS, they seem on point with their stocks.
There are two things I know for sure about CMRE.
The shipping industry will continue to be cyclical.
It's a lot closer to the bottom than the top of the cycle.
Just a thought, one of the things that drove this stock down was the increased sale of shares back in late 2016 for $6.00 a share. The thing I liked about it was, the owner was the buyer. I think the owner knows more about the business than most people and they bought more of the company.
just joining the party here at $5.37. thinking 2 year timeline.
I bought in Friday with a nibble. Looking out long term as well. I'll go ahead and take a bite perhaps if it starts to hit new 52 week lows.