Drys

Discussion in 'Stocks' started by Port1385, Feb 15, 2009.

  1. If you want to buy a decent dryshipper look into GNK.
     
    #11     Feb 18, 2009
  2. kipster

    kipster

    Earnings release Feb 19 after market

    First call research estimate supposed to be 0.66
     
    #12     Feb 18, 2009
  3. Massive gap at 7.00 on this stock. This stock is like being at the casino, up and down 20% a day. :)
     
    #13     Feb 18, 2009
  4. going to 2
     
    #14     Feb 18, 2009
  5. NoDoji

    NoDoji

    That may be a generous price.
     
    #15     Feb 18, 2009
  6. The current price reflects the fact that this company's solvency is very much in doubt. It would already filed for chapter 11 if the previous debt was not reworked.

    So the game is basically if it can outlast the current slump. If it can you will make a killing at the current price, if not the stock goes to 0.

    Unlike most companies the ETers like to say they are going bankrupt, this one is literally walking on the edge of the cliff.

    Nothing wrong with making a bet, but have NO illusion about what you are getting into.
     
    #16     Feb 18, 2009
  7. But still , I think book value is around 30 dollars , they issued
    new shares and why would they be BK.
     
    #17     Feb 18, 2009
  8. what you mean why would they go BK? if the current situation continues, their primary income will not be enough and simply run out of cash. The hope is the outlook improves so they can start charging more to increase the revenue.

    The share issued is nothing more than a desperate move to get cash, who in their right mind would issue shares after their stock drops from $130 to single digit? if not to shore up the balance sheet.

    really? seriously? book value $30? :D

    again i am not saying dont buy this, it may very well popup 10x or more this year, just know what you are getting.
     
    #18     Feb 18, 2009