Star Bulk Carriers (NASDAQ:SBLK)
A blank check company which was formed to serve as a vehicle for the acquisition through a merger, capital stock exchange, asset acquisition, or other similar business combination with one or more businesses in the shipping industry.
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This specific company is currently paying a 11% dividend based on the current equity price, has purchased its own stock to the tune of 50 million dollars worth in recent weeks and has excellent management.
They are in the right industry at the right time. This is a 20 dollar stock in the next 12 months.
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I agree with Cramer...looks like 9%-10% could be on the horizon. Taking a chance on this one but the long term prospect looks good.
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I'm going with Cramer correcting himself about Dry Bulk shipping.
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