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For the week ending 3/12/2021.
My four top stocks:
TRQ 158.91% up 25.85%
CCLP 96.45% up 2.66%
CPG 93.36% up 9.71%
ARC 93.12% up 36.75%
My four stocks at the bottom:
PTMN 5.43% up 7.29%
GSV -9.29% up 7.12%
MICR -9.31% up 1.40%
ITP -32.11% up 8.65%
I have seven additional stocks (all green from 14.43% to 86.13%):
AHC, BKEP, DSX, ERF, MMLP, SQNS, TURN
All 15 of my stocks gained for the week, a first for me since I have been keeping weekly records.
Hope everyone has a great weekend.
Just got back after getting my 2nd Moderna shot this morning.
Looking at the long range chart, I considered a good buy between $1.50 and $2 as it appeared to have broken the downtrend that started at the beginning of 2017. I had expected it to trade sideways for the next three to six months. I was not expecting it to move above $3 so soon. Time will tell if this drops back to the $2 to $2.50 range or moves on higher.
Best of luck always.
I got ERF at $3, though I am happy with the movement it is now making.
Welcome to the group here. I run a scan of stocks up to $3 on the three major markets from 2 to 4 times a year. We are all here to learn more and make great profits. Feel free to always ask questions. I am sure someone here will be able to help.
For the week ending 3/5/2021.
My four top stocks:
TRQ 133.06% down 14.89%
CCLP 93.79% up 21.34%
CPG 83.65% up 29.13%
ERF 73.66% up 17.14%
My four stocks at the bottom:
PTMN -1.86% unchanged 1.86%
MICR -10.71% up 2.79%
GSV -16.38% down 7.75%
ITP -40.76% down 11.72%
I have seven additional stocks (all green from 6.03% to 59.62%):
AHC, ARC, BKEP, DSX, MMLP, SQNS, TURN
Hope everyone has a great weekend.
One man's trash is another man's treasure.
Each individual needs to consider cost before making a purchase on any stock.
My biggest losers for the month of February 2021:
SQNS down 29.14% to 37.71%
GSV down 12.49% to -8.63%
MICR down 11.16% to -13.50%
AHC down 10.74% to 36.92%
Here is hoping for a better beginning for the month of March.
My biggest gainers for the month of February 2021:
TRQ up 68.04% to 147.95%
CCLP up 59.56% to 7.45%
ERF up 56.52% to 55.95%
DSX up 48.50% to 71.46%
CPG up 38.84% to 54.42%
MMLP up 38.68% to 33.16%
ARC up 11.73% to 64.57%
Though my stocks took a beating this week, my month to month gains were still up, just not as much as before the past two weeks.
For the week ending 2/26/2021 my stocks took a beating.
My four top stocks:
TRQ 147.95% down 13.08%
CCLP 72.45% down 1.78%
DSX 71.46% down 4.52%
ARC 64.97% down 35.19%
My five stocks at the bottom:
BKEP -.16% up 2.65%
PTMN -1.86% up 1.74%
GSV -8.63% down 18.55%
MICR -13.50% down 4.19
ITP -29.04 down 44.56%
I sold ERLFF for a 50% profit this past week
I have six additional stocks (all green from 15.68% to 56.52%):
AHC, CPG, ERF, MMLP, SQNS, TURN
Hope everyone has a great weekend.
For the week ending 2/19/2021
My four top stocks:
TRQ 161.03% up 36.47%
ARC 100.16% up 16.32%
DSX 75.98% down 27.07%
CCLP 74.23% up 14.22%
Sold DNN at $1.52 for a 245% profit.
My four stocks at the bottom:
GSV 9.92% down 13.81%
*BKEP -2.81% (Bought yesterday-Thursday)
**PTMN -3.60% (Bought today-Friday)
MICR -9.31% no change from last week.
I have eight additional stocks (all green from 11.14% to 53.68%):
AHC, CPG, ERF, ERLFF, ITP, MMLP, SQNS, TURN
Hope everyone has a great weekend.
TRQ broke the $16 mark this morning. The next level that needs to be broken is around $32 or there about. TRQ is still moving slowly upward, which in my opinion means more gains ahead overall. There will be up days and down days. Looking at the chart I continue to see upward movement for the time being.
Anyone still following PTMN?
I am out at 1.52 for a profit of 245%. Best to all.
For the week ending 2/12/2021
My four top stocks:
DNN 151.47% up 75.44%
TRQ 124.56% up 19.14%
*DSX 103.05% up 55.84%
ARC 83.73% up 10.94%
My four stocks at the bottom:
GSV 23.73% up 18.41%
**ERLFF 14.02% up 6.19%
ITP 2.37% up 23.43% (was down over 60% on 9/4/2020)
MICR -9.31% down 3.29%
* Moved up to replace SQNS
** Moved up to replace MMLP
I have seven additional stocks (all green from 36.37% to 83.73):
AHC, CCLP, CPG, ERF, MMLP, SQNS, TURN
Hope everyone has a great weekend
DNN has been moved above the share price at the close of 2014. The high today was 1.27 and at present is at 1.12. So far, 2021 has been a great year for DNN. My projection for DNN is that I expect it to reach at least 1.50 or there about. This is just my opinion and maybe worth at least .02 or less.
Welcome aboard. I have been using Ted's method off and on since 1983. It was not until 2018 that I stopped playing around and started using it full time and 2020 has been my best year yet.
AT present I have two stocks that are up over 100% (I entered DNN @ .4275 and TRQ @ 5.9752). All but one of my stocks are showing double digit gains in my account, thanks to Ted's method.
Hope you have a great week.
For the week ending 2/5/2021
My four top stocks:
TRQ 105.42% up 25.51%
SQNS 96.21% up 29.36%
DNN 76.03% up 26.94%
ARC 72.79% up 19.55%
My four stocks at the bottom:
GSV 5.32 up 1.46%
MMLP 4.96 up 10.48%
MICR -6.02% down 3.68%
ITP -21.06% up 6.17%
I have seven additional stocks (all green):
AHC, CCLP, CPG, DSX, ERF, ERLFF, TURN
Hope everyone has a great weekend
For the week ending 1/29/2021 my four top stocks:
TRQ 79.91% down 4.09%
SQNS 66.85% down 4.23%
ARC 53.24% up 3.13%
DNN 49.09% down 8.82%
My four stocks at the bottom:
ERLFF -1.76% down .19%
MICR -2.34% down 2.45%
MMLP -5.52 down 6.08%
ITP -27.23% down 1.10%
I have seven additional stocks (all green):
AHC, CCLP, CPG, DSX, ERF, GSV, TURN
Hope everyone has a great weekend
For the week ending 1/22/2021 my four stocks up over 50%:
TRQ 84.00% down 12.10%
DNN 57.91% down 18.12%
SQNS 71.08% up 17.96%
ARC 50.11% down 13.30%
My two worse stocks:
MICR .17% up 4.46%
ITP -26.13% up 20.24%
I have six additional stocks that are under 35%:
AHC, CPG, DSX, ERF, ERLFF, GSV, MMLP, TURN
Hope everyone has a great weekend
For the week ending 1/15/2021 my four stocks up over 50% and my two worst (negative) stocks.
TRQ 96.10% down 40.73% (This one dropped big time Monday and only regained a small percentage back by Friday.
DNN 76.03% down 1.99%
SQNS 53.12% up 4.64%
ARC 63.41% up 31.28%
Sold my GSAT 54.03% up 60.9% (was down -6.87% last week) this past Tuesday at 133% profit.
My two worse stocks are listed below.
MICR -4.29% up 2.51%
ITP -46.37% down 6.48%
I have six additional stocks that are under 35%:
AHC, CPG, DSX, ERF, ERLFF, GSV, MMLP, TURN
Hope everyone has a great weekend.
Sequans and e-peas Demonstrate Energy Harvesting LTE-M/NB-IoT Connectivity Solution
January 11 2021 - 07:00AM
PR Newswire (US)
Alert
PARIS and MONT-SAINT-GUIBERT, Belgium, Jan. 11, 2021 /PRNewswire/ -- Sequans Communications S.A. (NYSE: SQNS), a leading maker of 5G/4G chips and modules for massive, broadband and critical IoT, and e-peas, supplier of advanced energy harvesting and processing semiconductor solutions, announced the demonstration of a joint solution combining e-peas' AEM energy harvesting IC (integrated circuit) with Sequans' Monarch LTE-M/NB-IoT platform to provide a self-powered cellular IoT connectivity solution, in a very small footprint, that can operate indefinitely without batteries.
"Energy harvesting technology is ushering in a new era where IoT devices will no longer have to run on batteries," said Didier Dutronc, EVP and head of Sequans' massive IoT business unit. "This will have a profound impact on the IoT market and will greatly increase the number and types of applications that can be connected to the IoT, extending it to those applications where direct power connection or manual intervention to change batteries is not possible. In addition to the significant cost and practical advantages of this, this technology also allows for a more sustainable IoT world through elimination of the production and recycling of billions of batteries every year. Energy harvesting offers one of the most exciting visions of the IoT future, and through our partnership with e-peas, a leader in advanced energy harvesting solutions, we aim to bring this vision to reality."
The Sequans/e-peas demonstration shows the e-peas AEM10941 IC transferring energy from a photovoltaic harvester to a storage element and then to Sequans' Monarch LTE-M/NB-IoT module where it powers a sensor device measuring power, light, and humidity. The demo kit is supplied with a small indoor DSC photovoltaic cell that can power many types of IoT applications using indoor light and LTE connectivity. In an outdoor environment, the size of the photovoltaic cell can be reduced to allow for energy-autonomous devices in an even smaller form factor. In a typical application, such as in farming or industry, device sensors collect data (humidity, temperature, air quality) while the lighting environment is loading the capacitor. With the combination of the e-peas AEM10941 IC and Sequans' Monarch module, the collected data can be sent up to 8 times a day, with no need of batteries using a 15 cm2 indoor PV cell under 500 Lux, making the devices completely energy self-sufficient and CO2 neutral.
"We are excited to collaborate with Sequans on this solution combining energy harvesting with IoT connectivity," said Christian Ferrier, chief marketing officer, e-peas. "Not only do we show the viability of energy harvesting technology, but we show how IoT companies can build maintenance-free devices that can operate autonomously, which has a huge positive impact on sustainability, total cost of ownership, and device longevity."
Sequans and e-peas are offering a reference design with schematics for IoT companies, enabling them to design and build their own connected IoT devices using energy harvesting technology.
Sequans is participating in CES 2021, January 11-14, where it will have an online exhibit, including new product information, and the ability to network and set meetings with Sequans' professionals. For more information or to request a meeting please contact us at events@sequans.com
About e-peas
e-peas develops and markets disruptive ultra-low power semiconductor technology. This enables industrial and IoT wireless product designers to substantially extend battery lifespans and eliminate the heavy call-out costs of replacing batteries, without in any way compromising on reliability. Relying on 15 years of research and patented intellectual property, the company's products increase the amount of harvested energy and drastically reduce the energy consumption of all power consuming blocks within wireless sensor nodes. Headquartered in Mont-Saint-Guibert, Belgium, with additional offices in Switzerland, USA and presence in Taiwan, e-peas offers a portfolio of energy harvesting power management interface ICs, microcontrollers and sensor solutions. Visit e-peas online at www.e-peas.com. For sales and support, contact e-peas at this link.
About Sequans
Sequans Communications S.A. (NYSE: SQNS) is a leading developer and provider of 5G and 4G chips and modules for massive, broadband, and critical IoT. For 5G/4G massive IoT applications, Sequans provides a comprehensive product portfolio based on its flagship Monarch LTE-M/NB-IoT and Calliope Cat 1 chip platforms, featuring industry-leading low power consumption, a large set of integrated functionalities, and global deployment capability. For 5G/4G broadband and critical IoT applications, Sequans offers a product portfolio based on its Cassiopeia Cat 4/Cat 6 4G and high-end Taurus 5G chip platforms, optimized for low-cost residential, enterprise, and industrial applications. Founded in 2003, Sequans is based in Paris, France with additional offices in the United States, United Kingdom, Finland, Israel, Hong Kong, Singapore, Taiwan, South Korea, and China. Visit Sequans online at www.sequans.com.
Forward Looking Statements
View original content:http://www.prnewswire.com/news-releases/sequans-and-e-peas-demonstrate-energy-harvesting-lte-mnb-iot-connectivity-solution-301203379.html
SOURCE Sequans Communications S.A.
Copyright 2021 PR Newswire
For the week ending 1/8/2021 my six stocks up over 30% and my two worst (negative) stocks.
TRQ 136.83% up 33.7%
DNN 78.02% up 31.44%
SQNS 48.48% up 20.91%
ARC 32.13% up 16.42%
DSX 33.67% up 24.81%
GSAT 54.03% up 60.9% (was down -6.87% last week)
My two worse stocks are listed below.
MICR -6.8% down .28%
ITP -39.89% up 7.84%
I have six additional stocks that are under 25%:
AHC, CPG, ERF, ERLFF, GSV, MMLP, TURN
Hope everyone has a great weekend.
For the week ending 12/31/2020 my five stocks up over 10% and my two worst (negative) stocks.
TRQ 103.13% up .49%
DNN 46.58% up 5.1%
SQNS 27.57% down 3.28%
ARC 15.712% up 4.69%
TURN 28.76% up 5.8%
My two worse stocks are listed below.
MICR -6.52% up 2.79%
ITP -47.73% down 2.57%
Hope everyone has a great and Happy New Year.
I still look for DNN to go above $1 sometime in the next few months. Though it was down today, it was still up from close on Friday last week. The high this month was only about .25c higher than several months back. Just my opinion. Hope you have a great new year.
For the week ending 12/24/2020 my seven stocks up over 10% and my two worst (negative) stocks.
TRQ 102.64% down 1.64%
DNN 41.48% up 6.73%
GSV 8.35% down 8.42%
SQNS 32.85% up 13.94%
ARC 11.02% down .78%
DSX 7.17% down 4.51%
TURN 22.96% up 12.18%
My two worse stocks are listed below.
MICR -9.31% down 2.79%
ITP -45.16% down 6.81%
Hope everyone has a Merry Christmas and a great weekend.
NEWS: Martin Midstream Partners L.P. Announces Sale of Mega Lubricants
December 22 2020 - 04:02PM
GlobeNewswire Inc.
Martin Midstream Partners L.P. (NASDAQ: MMLP) (“MMLP” or the “Partnership”) announced today the sale of certain assets used in connection with the Mega Lubricants shore-based terminals business to John W. Stone Oil Distributor, LLC (“Stone Oil”) for $22.4 million.
Robert Bondurant, Executive Vice President, Chief Financial Officer and Director of the Partnership, said, “The announcement today reflects our continued emphasis on debt reduction through the sale of non-core assets allowing MMLP to focus on our commercial strengths and long-term relationships built around our refinery services assets. As I stated in our last earnings call, my vision as I begin my role as CEO on January 1, 2021 is to make our Partnership attractive to investors again. Reducing our leverage is integral to that vision.”
Mega Lubricants is engaged in the business of blending, manufacturing and delivering various marine application lubricants, sub-sea specialty fluids, and proprietary developed commercial and industrial products.
John Stone, Jr., General Manager of Stone Oil, said, “John W. Stone Oil Distributor has been in the marine fuel and lubricants distribution business for nearly 75 years, plying its trade on the lower Mississippi River and the Gulf of Mexico. With the acquisition of the lubricant formulation, blending, and distribution business, we are excited to expand our offering. Mega Lubricants and John W. Stone Oil Distributor are very complementary businesses that share the same business spirit: a commitment to safety, quality, and service. Mega Lubricant’s delivery operations will expand Stone Oil’s existing distribution and delivery operations. We look forward to integrating seamlessly because of the similarities in corporate culture and personnel. We are excited about this acquisition and continue to look at growth in the future.”
About Martin Midstream Partners
Martin Midstream Partners L.P. is a publicly traded limited partnership with a diverse set of operations focused primarily in the United States Gulf Coast region. The Partnership's primary business lines include: (1) terminalling, processing, storage, and packaging services for petroleum products and by-products; (2) land and marine transportation services for petroleum products and by-products, chemicals, and specialty products; (3) sulfur and sulfur-based products processing, manufacturing, marketing and distribution; and (4) natural gas liquids marketing, distribution, and transportation services.
Additional information concerning Martin Midstream is available on its website at www.MMLP.com, or by contacting:
Sharon Taylor – Director of Investor Relations
(877) 256-6644
MMLP-C
NEWS: Diana Shipping Inc. Announces Extension of Tender Offer for Shares of Common Stock
December 22 2020 - 09:21AM
GlobeNewswire Inc.
Diana Shipping Inc. (NYSE: DSX) (the "Company"), a global shipping company specializing in the ownership of dry bulk vessels, today announced that in light of the declaration of a federal holiday on December 24, 2020, the Company has extended its previously announced cash tender offer to purchase shares of its common stock until the end of the day, 5:00 P.M., Eastern Time, on January 15, 2021, to allow additional time for stockholders to tender their shares. Except as set forth herein, the terms and conditions of the Offer (as defined below) remain the same.
On December 15, 2020, the Company announced the commencement of a tender offer to purchase up to 6,000,000 of its common shares using funds available from cash and cash equivalents at a price of $2.00 per share (the "Offer"). Stockholders who have previously validly tendered and not withdrawn their shares do not need to re-tender their shares or take any other action in response to the extension of the Offer. The terms and conditions of the Offer, prior to the amendment described in this press release, were set forth in the Company's "Offer to Purchase" and "Letter of Transmittal", each dated December 15, 2020, and the other related materials that the Company distributed to stockholders, which were filed with the Securities and Exchange Commission ("SEC") as exhibits to the Company's Schedule TO on December 15, 2020.
About the Company
Diana Shipping Inc. is a global provider of shipping transportation services through its ownership of dry bulk vessels. The Company’s vessels are employed primarily on medium to long-term time charters and transport a range of dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes.
Certain Information Regarding the Tender Offer
The information in this press release describing Diana Shipping Inc.’s tender offer is for informational purposes only and does not constitute an offer to buy or the solicitation of an offer to sell shares of Diana Shipping Inc.’s common stock in the tender offer. The Offer is being made only pursuant to the Offer to Purchase and the related materials that Diana Shipping Inc. is distributing to its shareholders, as they may be amended or supplemented. Shareholders should read such Offer to Purchase and related materials carefully and in their entirety because they contain important information, including the various terms and conditions of the Offer. Shareholders of Diana Shipping Inc. may obtain a free copy of the Tender Offer Statement on Schedule TO, the Offer to Purchase and other documents that Diana Shipping Inc. is filing with the Securities and Exchange Commission from the Securities and Exchange Commission’s website at www.sec.gov. Shareholders may also obtain a copy of these documents, without charge, from Georgeson LLC, the information agent for the tender offer, toll free at (800) 248-7690. Shareholders are urged to carefully read all of these materials prior to making any decision with respect to the Offer. Shareholders and investors who have questions or need assistance may call Georgeson LLC, the information agent for the Offer, toll free at (800) 248-7690. Parties outside the U.S. can reach the information agent at +1-781-575-2137.
Cautionary Statement Regarding Forward-Looking Statements
Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts.
The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words “believe,” “anticipate,” “intends,” “estimate,” “forecast,” “project,” “plan,” “potential,” “may,” “should,” “expect,” “pending” and similar expressions identify forward-looking statements.
The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, Company management’s examination of historical operating trends, data contained in the Company’s records and other data available from third parties. Although the Company believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies that are difficult or impossible to predict and are beyond the Company’s control, the Company cannot assure you that it will achieve or accomplish these expectations, beliefs or projections.
In addition to these important factors, other important factors that, in the Company’s view, could cause actual results to differ materially from those discussed in the forward-looking statements include the severity, magnitude and duration of the COVID-19 pandemic, including impacts of the pandemic and of businesses’ and governments’ responses to the pandemic on our operations, personnel, and on the demand for seaborne transportation of bulk products; the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand for dry bulk shipping capacity, changes in the Company’s operating expenses, including bunker prices, drydocking and insurance costs, the market for the Company’s vessels, availability of financing and refinancing, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents or political events, vessel breakdowns and instances of off-hires and other factors. Please see the Company’s filings with the U.S. Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties. The Company undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.
Corporate Contact:
Ioannis Zafirakis
Director, Interim Chief Financial Officer,
Chief Strategy Officer, Treasurer and Secretary
Telephone: + 30-210-9470-100
Email: izafirakis@dianashippinginc.com
Website: www.dianashippinginc.com
Investor and Media Relations:
Edward Nebb
Comm-Counsellors, LLC
Telephone: + 1-203-972-8350
Email: enebb@optonline.net
News: Diana Shipping Inc. Announces Release of Its First Environmental, Social and Governance Report
December 21 2020 - 09:12AM
GlobeNewswire Inc.
Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership of dry bulk vessels, announced today the release of its first Environmental, Social and Governance Report (the “ESG Report”), for the year ended December 31, 2019. The ESG Report provides an overview of the Company’s policies relating to environmental, social and governance commitments of the Company. The ESG Report is available on the Company’s website at www.dianashippinginc.com.
About the Company
Diana Shipping Inc. is a global provider of shipping transportation services through its ownership of dry bulk vessels. The Company’s vessels are employed primarily on medium to long-term time charters and transport a range of dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes.
Cautionary Statement Regarding Forward-Looking Statements
Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts.
The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words “believe,” “anticipate,” “intends,” “estimate,” “forecast,” “project,” “plan,” “potential,” “may,” “should,” “expect,” “pending” and similar expressions identify forward-looking statements.
The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, Company management’s examination of historical operating trends, data contained in the Company’s records and other data available from third parties. Although the Company believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies that are difficult or impossible to predict and are beyond the Company’s control, the Company cannot assure you that it will achieve or accomplish these expectations, beliefs or projections.
In addition to these important factors, other important factors that, in the Company’s view, could cause actual results to differ materially from those discussed in the forward-looking statements include the severity, magnitude and duration of the COVID-19 pandemic, including impacts of the pandemic and of businesses’ and governments’ responses to the pandemic on our operations, personnel, and on the demand for seaborne transportation of bulk products; the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand for dry bulk shipping capacity, changes in the Company’s operating expenses, including bunker prices, drydocking and insurance costs, the market for the Company’s vessels, availability of financing and refinancing, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents or political events, vessel breakdowns and instances of off-hires and other factors. Please see the Company’s filings with the U.S. Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties. The Company undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.
Corporate Contact:
Ioannis Zafirakis
Director, Interim Chief Financial Officer,
Chief Strategy Officer, Treasurer and Secretary
Telephone: + 30-210-9470-100
Email: izafirakis@dianashippinginc.com
Website: www.dianashippinginc.com
Investor and Media Relations:
Edward Nebb
Comm-Counsellors, LLC
Telephone: + 1-203-972-8350
Email: enebb@optonline.net
NEWS: 180 Degree Capital Corp. Announces the Initiation of Repurchases under Its $2.5 Million Stock Buyback Program, a 1-for-3 Reve...
December 21 2020 - 09:00AM
GlobeNewswire Inc.
180 Degree Capital Corp. (NASDAQ:TURN) (“180” and the “Company”), today announced that it plans to begin share repurchases under its $2.5 million stock buyback program, that it will be initiating a 1-for-3 reverse stock split effective on January 4, 2021, and provided additional Q4 2020 updates. Each of these topics are discussed in more detail below in the following letter to shareholders.
Fellow 180 Shareholders,
I now know what it is like to live the life of a dog; in that every dog year lived is equivalent to seven years lived for human beings. 2020 has definitely felt like more than one year; it has actually felt like a decade. This year has been a trying one for many as a global pandemic claimed over 320,000 lives in the United States. To put that into horrific perspective, that is the equivalent of having a 9/11 terrorist attack, where over 3,000 lives were lost, every day for 107 straight days. I sympathize with anyone, who, because of the pandemic, has had to endure a loss of a loved one. I equally sympathize with those that suffered from economic hardship as a result of the fallout from the events of this year. For those that have sought to minimize the effects of the pandemic, I question their sanity, their belief in facts and science, and their overall motives. Thankfully, vaccines are here and are being distributed. We are now near the end of what has been a year to forget as far as I’m concerned. Over the years, I have had so many wonderful conversations with 180 shareholders and I truly hope all of our shareholders are safe and well.
As we exit the year, we are going to be instituting two actions for 180 shareholders. First, effective January 4, 2021, we will be initiating a 1-for-3 reverse stock split. Second, we will begin share repurchases under our $2.5 million stock buyback program, particularly in the event that our share price responds in the opposite way to what is intended by this announcement of the reverse stock split. I think almost everyone who has followed us over the last four years knows that we are fully transparent with all that we are doing in our effort to create value for our shareholders. As such, we wanted to discuss each of these steps in more detail with you.
First things first, the reverse stock split. By definition, a stock price split has no inherent effect on a company's enterprise value. The market capitalization of 180 after the split should have exactly the same value as it does before the split. If I was cooking and the recipe called for a stick of butter, would it make a difference if I added a whole stick or two halves? No. You would have exactly the same amount of butter. But in the three-dimensional psychological analysis world of stock splits, to some, reverse stock splits are perceived to be a “bad” thing, while the popular 2-for-1 (or whatever the ratio is) stock splits are perceived to be a “good” thing. It is true that some reverse stock splits are enacted from low quality companies whose price per share is below $1. These companies face delisting from stock exchanges that have minimum share price rules. Well, that’s obviously not 180. As of the close of business December 18, 2020, we have grown our cash and securities of publicly traded companies to nearly $58 million or $1.86/share. That is up from $17 million net of outstanding debt, or $0.55/share, in mid-2016. Over our history we have carved out a name for ourselves for our unique strategy in the asset class we invest in. 180 has a remade balance sheet, a healthy business model, and hopefully you agree, both a short and long term shareholder friendly view of value creation. We have heard from a number of shareholders that a higher priced stock would attract more attention from both the institutional and retail world of investors. Many institutions require a company’s stock price to be above $3/share, or even $5/share before they even consider investing in the company. Many of our shareholders have asked us to do the reverse stock split to make us more attractive to a more diverse set of shareholders. That is it. There is nothing more complicated about why we sought and obtained shareholder approval for the reverse stock split at our 2020 Annual Meeting of Shareholders. There is no bad news here and there is no ulterior motive! As a matter of fact, while there are still a couple weeks left in the year, we currently believe we will grow our net asset value per share (“NAV”) once again in Q4 2020.
Now, for those that maintain some sort of negative view on a reverse stock split, while I will never agree with your view based on math, I do not live under a rock as it relates to understanding the perception issue related to them. Should unexpected weaknesses arise, we will use the opportunity to repurchase our stock under our Board-authorized $2.5 million share repurchase program. Since our shareholder call in November, we have continued to grow our net asset value through our public investment strategy. While there are still a couple weeks left in 2020, we currently estimate that our NAV will be back above $3.00 by December 31, 2020. Within this estimated NAV, cash and securities of publicly traded companies account for approximately $1.86/share, or approximately $58 million, as of December 18, 2020. This amount of cash and securities of publicly traded companies does not include the carried interest on our separately managed account that we currently estimate will be more than $2 million. Our closing stock price as of December 18, 2020, was $1.91, which suggests investors are ascribing virtually zero value to our private portfolio holdings. To be blunt, I find our public market valuation to be absurd. I have consistently stated that over the last year as our management team has personally reached into our pockets and bought TURN in the open market. Today’s accretive share repurchase is the next step towards the goal of creating value for our shareholders.
This repurchase says nothing about our belief in our ability to create value from our strategy. This has everything to do with our own stock price. This management team has bought over 5% of the Company with its own after-tax dollars in the last four years. We have completely transformed our business with competitive public market stock picking performance. We have grown our cash and securities of publicly traded companies by over $40 million since I joined 180’s Board. Our NAV is currently expected to climb to above $3.00 by year end. And for all that, the market believes our business is worth $1.91? We do not. As such, we will be aggressive in our share repurchases.
If anyone wants to discuss any of these announcements, you know where to find us and I will look forward to that call. On behalf of all of 180, I hope everyone has a happy holiday season, and we look forward to talking to you in 2021.
Best Regards,
Kevin M. Rendino
Chairman and Chief Executive Officer
About 180 Degree Capital Corp.
180 Degree Capital Corp. is a publicly traded registered closed-end fund focused on investing in and providing value-added assistance through constructive activism to what we believe are substantially undervalued small, publicly traded companies that have potential for significant turnarounds. Our goal is that the result of our constructive activism leads to a reversal in direction for the share price of these investee companies, i.e., a 180-degree turn. Detailed information about 180 and its holdings can be found on its website at www.180degreecapital.com.
Press Contact:
Daniel B. Wolfe
180 Degree Capital Corp.
973-746-4500
Forward-Looking Statements
This press release may contain statements of a forward-looking nature relating to future events. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. These statements reflect the Company's current beliefs, and a number of important factors could cause actual results to differ materially from those expressed in this press release. Please see the Company's securities filings filed with the Securities and Exchange Commission for a more detailed discussion of the risks and uncertainties associated with the Company's business and other significant factors that could affect the Company's actual results. Except as otherwise required by Federal securities laws, the Company undertakes no obligation to update or revise these forward-looking statements to reflect new events or uncertainties. The reference and link to the website www.180degreecapital.com has been provided as a convenience, and the information contained on such website is not incorporated by reference into this press release. 180 is not responsible for the contents of third-party websites.
Enerplus Announces Cash Dividend for January 2021
December 18 2020 - 06:00AM
PR Newswire (Canada)
CALGARY, AB, Dec. 18, 2020 /CNW/ - Enerplus Corporation ("Enerplus") (TSX: ERF) (NYSE: ERF) announces that a cash dividend in the amount of CDN$0.01 per share will be payable on January 15, 2021 to all shareholders of record at the close of business on December 31, 2020. The ex-dividend date for this payment is December 30, 2020.
The CDN$0.01 per share dividend is equivalent to approximately US$0.01 per share if converted using the current Canadian/US dollar exchange rate of 0.7863. The U.S. dollar equivalent dividend will be based upon the actual Canadian/US exchange rate applied on the payment date and will be net of any Canadian withholding taxes that may be applicable. Dividends paid by Enerplus are considered an "eligible dividend" for Canadian tax purposes. For U.S. income tax purposes, Enerplus' dividends are considered "qualified dividends".
For further information, including financial and operating results and our most recent corporate presentation, please visit our website at www.enerplus.com or phone 1-800-319-6462. Shareholders may, upon request, obtain a hard copy of Enerplus' complete audited financial statements free of charge.
About Enerplus
Enerplus is an independent North American oil and gas exploration and production company focused on creating long-term value for its shareholders through a disciplined, returns-based capital allocation strategy and a commitment to safe, responsible operations.
Ian C. Dundas
President & Chief Executive Officer
Enerplus Corporation
SOURCE Enerplus Corporation
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