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Genco Shipping & Trading Limited (GNK)

NYSE - NYSE Delayed Price. Currency in USD
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20.01+0.87 (+4.55%)
At close: 4:00PM EDT
20.10 +0.09 (0.45%)
Pre-Market: 06:44AM EDT
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  • P
    Piotr
    $SHIP conversation
    Good morning fellow shipping magnates. Another good day for dry bulkers. Capesize index +9% to $33k a day. Brazil China route +9% to $33k a day. July FFA +5% to $43k a day
    August FFA +3% to $43k a day.

    $SHIP is the only USA listed pure Capesize play. Now SHIP owns 16 vessels up by 5 from Q1.

    Quick check what is the short volume ratio
    $SHIP 20.34
    $EGLE 13.04
    $DSX 13.33
    $SBLK 10.23
    $GNK 8.05
    $GOGL 6.40

    SHIP has the highest short volume and the higher the volume the more likely for the price to move violently up due to short sellers scrambling to cover their losing positions once the price goes higher (feedback loop).... and since we are seeing very strong shipping rates the stocks are well positioned to go higher. Also there is more and more interest in shipping. Recently M. Burry (Big Short 2008), George Soros and others invested in shipping.

    Feel free to share, copy paste on other channels.

    Dry bulk is the place to be.

    $BDRY
    $SB
    $NMM
    $EGLE
    $DAC
    $CMRE
    $ESEA
    $GOGL
    $DSX
    $SBLK
    $NAT
    $ZIM
    $STNG
    $FRO
    $GSL
    $EURN
    $GNK
    $DHT
    $TK
    $TNK
    $ASC
    $CTRM
    Bullish
  • P
    Piotr
    $SHIP conversation
    Baltic Capesize index +4% to $31k a day. Brazil China route +6% to $30k a day. Jul FFA +5% to $40k a day. Aug FFA +3% to $40k a day.

    SHIP offers the best EV/Sales (NTM) ratio of the dry bulk stock. Means you get more shipping revenue stream if you buy SHIP stock than other companies. SHIP is immensely undervalued.

    Ticker EV/Sales ratio
    $SHIP 2.1x
    $EGLE 3.1x
    $DSX 3.5x
    $SBLK 3.6x
    $GNK 3.8x
    $GOGL 4.1x

    Feel free to share, copy paste on other channels.
    Bullish
  • P
    Piotr
    $SHIP conversation
    Short interest update:
    Ticker ShortVolume TotalVolumeInMillions ShortVolumeRatio
    $SHIP 7067092 17.27 40.91
    $EGLE 39194 0.22 17.51
    $DSX 79084 0.91 8.73
    $SBLK 118256 1.55 7.60
    $GNK 99765 0.71 13.96
    $GOGL 140950 0.77 18.20

    $FRO 121574 0.68 17.92
    $TOPS 323370 1.03 31.47

    SHIP short volume of 7067092 is seriously overcrowded. It increased by 4324963 shares yesterday. Most of these new short positions are losing money as they must have opened at around $1.17. Once the price gets closer to $1.30 (what is very likely today) shorts will panic cover pushing the price even higher. This is the feedback loop the longs need. It will happen like this for a number of days and this is what will take us to $2.25 region where there might be a little of consolidation and after that towards the date of Q2 results we might see the price to go parabolic to $3.40. Q2 results and the guidance the company will be the catalyst for the capitulation of shorts and we may see an epic short squeeze. In many cases shipping companies use those short squeezes to rise more capital and dilute. If you listen carefully the Q1 earnings call the CEO said there will be no dilution until at least Q4. If they dilute before the CEO will be in the violation of the Securities Act and I don’t think he would do it. There are plenty of law firms specializing in securities laws that would immediately jump on the idea of making money on such an easy case.

    This is a very good time for us fellow shipping magnates. This in no advice. I am just a trader and shared with you my view on SHIP. If you click on my name you will see I am trading SHIP long only since when it was $0.80 last year. I invested in SHIP because I saw they have the business model that benefits a lot from current high shipping rates and they added 45% more vessels since Q1, while at the same time reduced their debt. They must be making a lot of money now and there is a great probability the company will pay dividend out of 2021 profits. This is a true turnaround story. The expenses the company are in line with the industry standards so there is no way the management is circumventing any money (what shorts falsly claim). Actually the expenses in relation to revenue are smaller than $DSX which is at least twice as big as SHIP (in terms of revenue and DWT)

    One more thing. I came across an information that stock bashers here are paid $7 each time you engage with them. The more you engage with them the more they are motivated to post lies and non sense. Longs should post just facts. Facts are very good.
    Bullish
  • P
    Piotr
    $SHIP conversation
    Baltic Dry Index rises 2.87% to 3267
    Capesize +5.03% to $34930 a day
    Panamax +1.16% to $30686 a day
    Supramax 58k tons + 1.55% to $30299
    Handysize +0.81% to $23010

    $SHIP
    $EGLE
    $DSX
    $SBLK
    $GNK
    $GOGL

    SHIP is the only US listed dry bulker that is pure Capesize play, and as you can see Capesize pays most.
    Bullish
  • P
    Piotr
    $SHIP conversation
    Quick check what is the short volume ratios shipping stocks:
    $SHIP current short volume ratio 33.59 (yesterday 20.34)
    $EGLE current short volume ratio 21.81 (yesterday 13.04)
    $DSX current short volume ratio 17.06 (yesterday 13.33)
    $SBLK current short volume ratio 11.35 (yesterday 10.23)
    $GNK current short volume ratio 18.06 (yesterday 8.05)
    $GOGL current short volume ratio 12.55 (yesterday 6.40)

    $FRO current short volume ratio 14.92 (yesterday 9.21)
    $TOPS current short volume ratio 28.47 (yesterday 23.90)

    SHIP: There is a significant increase of short volume (almost 8 million shares) what means even slight move upward will probably make short sellers to quickly cover their positions pushing the place higher. Short sellers looking for cover might be now the most significant factor driving the SHIP price wildly higher for the moment, until the next earnings calls.
    Bullish
  • E
    Egnar
    $SBLK conversation
    So what was the reason for the sell off fellow dry bulkers?

    Was it the Chinese port congestion as a result of COVID restrictions? I would imagine that would result in higher shipping rates in the short term and be bullish for us.

    Is this market manipulation by institutions to get cheap shares before we embark on our supercycle? Short volume was surprisingly low today.

    Is this a result of our one day of slowed momentum on the BDI? Or is this just a healthy correction after a week straight gains?

    Is this profit taking by traders who don't know how to trade this sector? The charts say overbought, shorts even attacked last week and got wrecked by the BDI refusing to slow down.

    What the F happened with SB?

    $SBLK
    $SB
    $BDRY
    $NMM
    $DAC
    $GOGL
    $DSX
    $SHIP
    $GNK
    $CTRM
    $EGLE
    $ZIM
    $EDRY
  • P
    Piotr
    $SHIP conversation
    $SHIP shorts are in panic mode. Great potential for a proper short squeeze.
    $BDRY
    $SB
    $NMM
    $EGLE
    $DAC
    $CMRE
    $ESEA
    $GOGL
    $DSX
    $SBLK
    $NAT
    $ZIM
    $STNG
    $FRO
    $GSL
    $EURN
    $GNK
    $DHT
    $TK
    $TNK
    $ASC
    $CTRM
    Bullish
  • P
    Piotr
    $SHIP conversation
    Short interest update:
    Ticker ShortVolume TotalVolumeInMillions ShortVolumeRatio
    $SHIP 16506300 46.76 35.51
    $EGLE 35694 0.19 18.44
    $DSX 188074 1.11 16.90
    $SBLK 255985 2.72 9.42
    $GNK 89545 0.87 10.25
    $GOGL 235108 1.62 14.56

    $FRO 147805 1.42 10.43
    $TOPS 657312 2.02 32.58

    SHIP short volume of 16506300 share is absolutely insane and is overcrowded. I expect the price to stabilize over the next 2-3 days and the trading volumes to decrease to 4 million shares a day. This will create a very dangerous situation for shorts. We may see an epic short squeeze.

    Out of 10246 comanies analyzed by fintel SHIP is ranking 254 as a candidate for a short squeeze with score 79.89 out of 100.
    Bullish
  • D
    Didier
    volume has been picking up over the last few weeks. Hope institutional money has been buying in.
  • D
    Dan
    not sure why this one's going down. It's either a great buying opportunity or its tanking. the other shipping stocks are up after hours
  • m
    mckellar
    If you’re a day trader, you should definitely check out (http://Fairstox.com). They send a watchlist covering the top pre-market movers every day before the open. It’s a great way to pick out potential trades for the day.
  • D
    Dan
    all shipping stocks are up about 10% today. We're only up 2% today. I guess that article on CEO compensation hurt us.
  • D
    Dan
    What a great sector. All shipping stocks are flying. GNK should be $20 by the end of the week.
  • E
    Ethajjk
    this 17-19 stock ,
    Bullish
  • Y
    Yahoo Finance Insights
    Genco Shipping & Trading is up 8.74% to 17.67
  • A
    Armando
    What the hell happened today to the whole sector ? Danaos , Star bulk and BRKY also dropped
  • C
    Carson
    A lot of ppl don’t know about this stock
    Bullish
  • M
    Marvin
    Cleveland-Cliffs Inc.
    Chinese iron ore port inventories and other dry bulk cargoes will have to be restocked. The following article is analysis about SBLK. However, this article sheds light on the iron ore port inventories from a different angle.

    Star Bulk Carriers Corp. - Pay Now, Party Later https://seekingalpha.com/article/4268216?source=ansh $SBLK, $DSX, $GNK, $GOGL, $SALT
    IMO 2020 disruptions, bottlenecks in shipyards and restocking Chinese iron ore port inventories and across other dry bulk cargoes will create opportunities in t
    IMO 2020 disruptions, bottlenecks in shipyards and restocking Chinese iron ore port inventories and across other dry bulk cargoes will create opportunities in t
    seekingalpha.com
  • H
    Hong
    Huge volume for last two days, but price barely moved. All other bulk dryers had a good 2 days run. Don't know what is wrong here.