$Castor Maritime (CTRM.US)$ Since there are so many opinions...
$Castor Maritime(CTRM.US$
Since there are so many opinions on this stock, just thought that I should join the fun and give my worthless and biased (hold a portfolio that includes this stock) 2 cents as an unqualified and uncertified person, and please do not treat the below as financial advice -
Since there are so many opinions on this stock, just thought that I should join the fun and give my worthless and biased (hold a portfolio that includes this stock) 2 cents as an unqualified and uncertified person, and please do not treat the below as financial advice -
I always look to the management to manage the operational risk of an organisation, and to plan on strategies to survive during tough times and exploit the market during better times. I have to say from my limited reading that expansion during this period of time is great, and what is better is the fact that they have incurred minimal debts while expanding. Considering the cost of these ships, it is impressive to say the least, especially when we are comparing them to their competitors.
Technicals wise, the truth is that the longer it stays trading at this limited zone, the more resistance and support it is building - at the moment, almost every cent seems to have a resistance and support all the way up til 60 cents. With this amount of resistance and support, it is hard to determine how this stock should move, and let us face the fact that most of us with our limited financials will not be able to move the stock drastically. Therefore, I expect a pretty much range-bound trading for the next few days at least, so let us not spread undue fear for the stock looks like it still quite like the current trading range.
The truth is that some of the comments below on the management could be a bit harsh as I believe it is hard for any management (not only of castor marine) to predict the price of the stock moving forward and due to the size and available capital in the company, it is definitely harder for them to conduct activities to at least maintain a certain price range.
Now, moving on to what we should do as individuals, the easiest is that if you believe in the company's future, and there is still sufficient trading volume, you can wait with the many of us. If you do not believe in the company, you can either sell or short the stock, depending on your preference. It is quite clear that the strategies which the management is building up is for the longer term, therefore investors will need to manage their risk, especially the ability to discern how long they can hold onto the stock. As always, I like to use the example of Bill Hwang. Bill Hwang is what I believe as a very good investor, and does great due diligence. To be frank, after the collapse, I got to know the stocks that he has been in, I have done my due diligence and have bought most of the stocks that he has invested in. I believe that the inability for archegos capital to survive is due to their ability to manage risk and be able to hold stock positions long enough to realise the beliefs that they had during the due diligence process. Therefore, my encouragement to traders is not to be like Bill Hwang, or the circumstances by which you will fail will be similar to that of Bill Hwang.
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OldNormanBates : I'll buy The book.. Well said from the mind of wisdom, own fails, and Heart IMHO. Good job keeping his in a good feeling about CTRM for the term we're in....
71641151 : I'm definitely on board as well. My worthless opinion agrees with yours. I do believe CTRM is a long term investment and I'm in the long game.
CashSeal : Thank you for the write up. Good to know some out there have similar biased opinions as me :)
Hockie : Well written. I am in for long term as well
Griffster :
Griffster : Maybe you aren't qualified to give financial advice, but you sure have a convincing little blog there my friend. Sorry for the goofy bull in sunglasses, total accident
) that lack of proper risk management, not poor analysis, destroyed it. His swaps killed him as the largest portions of his highly marginalized trades (100mil for ever 20, or 5:1) declined drastically and instead of taking a HARD loss he held on. With no exit strategy and, to put it simply, his faith in God to make it all work out, devastated his "family business". All his lenders made calls over 48 hours for all that highly leveraged cash, and even if God.would have straightened things out, Goldman Sachs and his other major lenders weren't willing to wait out the miracle he was expecting. It unfortunate to say the least.
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At any rate, I couldn't agree with you any more about our vision on, a one, Mr. Hwang. The fund collapsed, in my complete and non informed retail trading financial opinion (
Sorry for the Hwang history lesson, just something I had been studying lately.