$24.44
-0.18 (-0.73%)
Genco Shipping & Trading Limited (GNK)
CAPS Rating:
A New York City-based company that transports iron ore, coal, grain, steel products and other drybulk cargoes along worldwide shipping routes.
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I believe the entire dry bulk shipping sector is stratospherically overvalued. With more ships coming online everyday, I believe dry bulk shipping rates will fall.I'm betting this is the next bubble.
Concur, these are the most run up stocks. I have been thumbing them down and back talking their pumpers, every time I find one.
If you are looking for back talk, look below at my Seaspan pick. Geese, I just couldn't get through to the pumper, so I gave up trying, especially after he called me stupid. Why people engage in name calling while they are attempting to "convince" you of their point is idiotic if you ask me.
Read the posting in our blog. For the moment and for the next 2-3 years at least the boom will last. Are you aware that currently some ships are chartered before being built? ......................................
Regards ....................
Angelo Grigoropoulos .........................
Hellenic Maritime at GreekTraders.Com
An underperform based on what? Supply? The fact is supply simply cannot keep up with demand due to the growth around the globe. With Pegs around 1 and awesome growth, these stocks seem to be STILL undervalued-
Look at the "dry bulk" shills piling on! ROFL! What I do is go back to their picks and "underperform" all their shippers. Those are the usually the biggest "shell game shippers".
The thing I love about the market is that I don't have to argue with people when people don't agree I'm just like on bet against me.
So now that it is in single digits, (As I write it is at $9.46) do you still consider GNK to still be overvalued?