In the filing, BALT intends to use the proceeds from their secondary to buy 2 Ultramax vessels with an option to buy another 2, to be delivered in the 2nd half of 2014. One has to ask oneself: do they know something we don’t know? Or, are they gluttonous bastard pigs?
Here’s the thing: this sucks for traders of the stock. But, as an investor, this is welcomed news.
On a rising tide, you want as much leverage as possible. BALT just went from being a small player with 10 vessels to a player with up to 17 by June of next year. If we’re right about shipping rates, BALT’s upside leverage just went through the roof.
Quick note: the previous two capital raises (9/20, 5/22) marked the bottom for the shares. In other words, today’s a good day to go hunting.
Quicker note: For those of you confused as to what the hell an ‘Ultramax’ is, consider it a supersized Supramax, falling into the Panamax category of 60,000+ dwt. BALT is mimicking the BDI.
http://www.youtube.com/watch?v=-N_NG96-eh0
how did the conference call go?
Well, I’m happy I bought the march options.
That awkward moment when a trade turns into an investment.
exactly
I am adding more BALT..
am a believer in the story.
good company , poised for big growth at the moment
welp..guess we hold and enjoy the cruise!
speaking of cruises, I couldn’t believe when I read yet another story for me to write a new farce of my favorite song based on the ‘Love Boat’ theme (AKA the ‘Sh_t Boat’)
“More Toilet Problems for Carnival: Crown Princess Poop Ship”
http://www.cruiselawnews.com/2013/04/articles/worst-cruise-line-in-the-world/more-toilet-problems-for-carnival-crown-princess-poop-ship/
Looking to add a little more on a large move down. I want to get in well below 4.50.
On another note, GOGO is also becoming a “hold forever” stock for me. I’m telling you guys… people aren’t even aware of this shit yet. Just wait until you start getting texts from friends you know are on planes. Just wait until GOGO is a household name when it comes to flying around the country. A little worried about a secondary for this stock as well though… so if anyone hears anything.
aggreud, so unknown outside of these halls
ahh but cramer pumped last nite GOGO..cult stock,,,and everyone wants some.any secondary will be consumed quickly