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Genco Shipping & Trading Limited (GNK)

NYSE - NYSE Delayed Price. Currency in USD
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12.29+0.23 (+1.91%)
At close: 04:00PM EDT
12.57 +0.28 (+2.28%)
After hours: 07:17PM EDT
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  • '
    '
    Warren Buffett was correct when he said to never buy a stock for its yield.
  • W
    Winston
    I you hold GNK during the required 60 day period you get qualified dividend treatment. Therefore, if you buy the stock now and get the next 2 dividends they will be taxed as a long term capital gain. Let's assume you get $1.50 in dividends. At the same time let's assume the stock goes down $1.50. If you sell you stock you get an ordinary loss, but the dividends will be taxed as long term capital gains. Therefore you end up in the same cash position, but make money because the long term gain rates are lower than the ordinary income rates (for most). From a tax perspective this stock is a good deal. Though the likelihood is that the stock will go up and you will get the dividends anyway, so all that planning may be a mute point. Just something to think about...
  • W
    Winston
    Genco Shipping & Trading (NYSE:GNK - Get Rating) had its price target decreased by equities research analysts at Jefferies Financial Group from $25.00 to $20.00 in a research report issued to clients and investors on Monday, The Fly reports. Jefferies Financial Group's price target suggests a potential upside of 58.60% from the company's current price.
  • S
    SomeUser
    A quick thought/observation from a hard lesson I learned in a stock I recently lost a lot of money in as some of you may be with GNK: 1) its supply AND demand.

    I know I know… duh. But, just because rates are up (like BDI for shipping or say crack spead rates were for refining distillates like gasoline) (which is part supply) does NOT = future demand. If demand falls, because the market is forward looking, said commodities or service price/rates falls. Doesnt matter what the current crack spread or BDI is.

    Also, atleast in oil and gas, previous price contracts are disputed and broken all the time as demand falls… so “locked in” rates arent always “locked in”. Hedging on future pricing can also be a thing whereas a company will actually lock themselves into a higher rates then current market prices

    My point: GNK is a good stock but there are a lot of pit falls hidden in how these stocks move AND while I hope this stock turns around for the better, the more the general market falls and valuations change the lower all stock prices; the higher the value of the USD the lower the price of equities + the more expensive it is for other countries to buy our commodities and services; an economic recession of the feds engineering could have catastrophic effects on all stock prices.

    Sometimes buying options is a safer way to hedge your losses VS price averaging down a falling knife….

    Just some thoughts on a Saturday morning
  • J
    James
    Single digits, very soon!!!
  • m
    martin
    GNK, having reduced their debt more than most shippers, and having secured a $300M bank revolver, is sitting very nicely....imo
  • '
    '
    OK my fellow longs who i respect! I think the indexes can drop about another 13% before we rebound. based on History. best of luck.
  • P
    Passive Income
    Current fleet blended TCE of: $22,275/day

    This is based on todays cape jump and Supra increase using $250 spread on fuel for scrubber fit capes. Almost a $0.75/quarter dividend at that level. Up about $900/day from 2 days ago. Things are looking good despite what share price is doing.
  • J
    James
    That $10 handle is looking mighty tasty.

    Expect dividends to be halted after Q4.
  • J
    James
    Pop quiz!
    What follows the biggest bull market in world history?
  • '
    '
    OT Passive any reason you prefer GNK to Sblk?
  • W
    Winston
    Sept 28 (Reuters) – The Baltic Exchange’s main dry bulk sea freight index extended its rally on Tuesday, rising about 5% to its highest in 13 years, steered by strong gains in capesize rates, and helped by demand for smaller vessels.

    * The overall index, which factors in rates for capesize, panamax, supramax and handysize vessels, jumped 245 points, or 5.2%, to 4,962, its highest since September 2008.

    * The capesize index advanced 722 points, or 9.5%, to 8,322, hitting its highest in 13 years.

    * Average daily earnings for capesizes, which transport 150,000-tonne cargoes such as iron ore and coal, rose $5,983 to $69,013.

    * “High iron ore export seasonality, surging demand for coal imports amid an energy supply crunch both in Asia and Europe, along with high capesize congestion in Chinese ports are driving the capesize rates – trans-Pacific leading the capesize freight rally at this point” said Tamara Apostolou, analyst at Intermodal Research.
  • S
    SomeUser
    Mid $10s seem likely to me. Anyone else? $11.10 is the 14 day RSI 20%. At that level buying and holding is feeling more compelling as the risk down is, in my opinion, $9.86 ish tops.
  • M
    Michael
    My current average on 2,040 shares is $16.76 and I’m likely to average down for as long (and as low) as the market allows me… I’m no genius but I think this is one heck of a business with a shareholder-oriented management.

    Good luck to all :)
    Bullish
  • R
    Robin
    Anyone think something else is up here. DBI isn't fluctuating enough for a 4% drop in one day...Any one?
  • h
    harry
    lucky are those who can get in at this level!! Count your blessings!!!
  • W
    Winston
    This GNK stock is much closer to its bottom than it's top. Always tough to time a falling knife, but the $13 range is close enough, especially with a terrific, sustainable dividend. I am on board...
  • '
    '
    I Admit that it is hard to invest in any stock that has been more than cut in half. Takes nerves of steel to try and find a bottom. Now more so as we have to fight the Fed. Good luck.
  • C
    CA
    Someone is working hard to hold this stock down. Hopefully, that changes after Friday
  • T
    Totenkopf
    I've been promising myself this for years but, always fail. THIS is the last time I act on a Barron's recommendation. I can get better advice from Cramer and that isn't a compliment to him.
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