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I'm not making any investment recommendations, and all... but for anyone who has any faith remaining in this company, I'd like to point out that the preferred shares just dropped to 4 cents each about 90 minutes ago. I'm not biting, and the volume makes price-limits tricky, but there are some who may wish to take advantage...
Well, there are two possibilities, I think. One, they've given up... unlikely, after all the talk in the last several months. Or two, they're working with lawyers and have been sworn to silence. I don't imagine they'd be posting much on a very public board like this in that case. It may be why munhoi hasn't shown much lately, either.
Curious. Do they say how long ago that Morningstar rating was given?
Not much compared to you guys, but I own 59,915 shares.
Similar. Botched a trailing stop in 2011 and got locked in at $10.25. I've averaged down over the years and wound up with a bit less than a third of your investment. Total cost basis is around $0.50 / share... though I have to admit, I was tempted to sell when it hit $0.04. It just went by too quickly.
There aren't many days when I don't kick myself for throwing good money after bad, here. I'm pretty much with Chevy at the moment: Might as well hang on and see what happens. If things go like TA suggests, it's not like I'll lose a whole lot more. On the other hand, I wouldn't turn away a miracle turn-around.
As always, best of luck to all.
I'm not so sure. Reading further down the filing, the convertible note has the same or similar language to the one that was used to 1,000% dilute the stock a few months back: Convertible at 60% average price, 4.99% ownership protection that was only covered by a week-long fire sale, yadda-yadda. They may be getting it ready to run, but more likely based on their recent actions, it's just another move to let a major Preferred shareholder cut loose without common voter approval.
There's a lot happening outside the company that is very positive, but from the inside, we've still got nothing. Not holding my breath just yet...
I don't know how to read these guys... Some MM's have a pretty tight spread, but others (CDEL, VNDM) are pushing 200-400%+. What's their play?
I was actually wondering, yes: With all the shares we have locked up on this board, along with what the CEO and Board most certainly hold, how many owners and shares are actually available to trade from day to day?
FYI, my good-til-canceled sell orders at $0.99 were expired without my knowledge Wednesday of last week. They were originally set for 180 days and I entered them in October. Be sure to check on any long-term orders you have for TEUFF to make sure that float is still locked tight.
Appreciated. I have some programming experience and thought it odd, and the $200 has been called out more than once. I figured if it wasn't a placeholder, then someone just really wanted notified when the stock moved to extremes...
Why would MAXM have both the cheapest shares on the lowest possible bid and the most expensive ask (that 1-share darling at $200)?
E-gad, I had no idea that Level 2 was right there on the site... you guys must've been doing a headsmack when I said I didn't have access to it.
Still wonder who these shorts have signed up to take the hit by driving the price down... Pardon me if there's some obvious benefit I'm missing, but I sure wouldn't sign up to bid-whack just so they could book a gain or get in lower.
Nothing today, bought yesterday, and I'm out of spare cash. Good news is my break-even is down to $0.50 from the long ride down... so it doesn't even have to pop much.
I just hope that claim that there's news coming is actually real. I know someone (forget who, sorry) said the IR told them ships were coming but wouldn't give a timetable.
This has been my stance for a long time: Why keep it running if they have no plans for it... unless it costs more to unwind the company than it does to keep it going, which is always possible. Legal expert I ain't.
Good deal. See you at the top.
Hey, I want it to go up, too. But not a soul here is going to run the price up just so someone else can exit -- and especially not on an arbitrary time table.
"Run the price up or I'll make sure more shares get dumped"? Come on, that's not how the market works -- for more than a day, anyway. Hang on for a bit, and IF this company has news (well aware that it's an if), then you'll get what you want and then some.
"DILUTION DILUTION DILUTION ... ONLY DOWNWARD TREND HERE."
So get out and stop bugging us.
So, let me see if I've got this straight...
MM / Retail sees the price on the rise and wants a piece of the action. So they put in a huge ask wall well above the current price to act as a ceiling. Then they or their buddies whack the bid low enough to make it look like there's this huge false spread in hopes that people will panic and sell out, driving the price down to say .018 so they can scoop up 500k shares on the cheap. Then, ride it all the way back up.
That sound about right?
POP!! Heck of an open to 0.03. I don't have access to the L2 but I like this already.
Same -- I chased this one down from the heights, got locked in by a failed stop order above $10 ($500 post-RS). I've managed to average down to around $0.70 break-even. So even .50 would make me happy (technically), but if it goes higher, all the better. Especially if they do manage to secure a few ships... look out above.
20 shares... really? Someone seriously paid a commission on a 27-cent trade?
Are you serious? This bad boy will ZOOM if they have real plans to acquire ships. They just need to say something!
What happened to m1999? Haven't seen him in days.
How do we have such a big spread on such high volume? .0085 / .0099 right now... someone is bound and determined to keep this one low.
If you fine folks get this stock above $0.45, I'll buy you a steak dinner. ... somehow.
Also, Fidelity in particular limits trade quantities online to 10k shares each. Not sure why; TD Ameritrade has no such limit I'm told.
I could buy a yo-yo and have less ups and downs... wow. Know it's volatile, but any thoughts on what happened today?
It's because I invested yesterday, sorry. But hey, I'm only out 90 bucks including commission... 10k share limit per online transaction at my broker.
More seriously: A lot of it was based on speculation. The company has been so tight-lipped about its future that nobody has any real idea what's going on. If there was a massive short sell the last couple days due to conversions or whatever, then hey, it might go back up. Otherwise... well, not much worse off than we were a few days ago.
Do we have confirmation of the ship management revenue? Who are they managing ships for, if not Box itself? Surely not Allseas, whom Box has been paying in the past?
So, for us non-professional traders... who or what is CDEL and why is it important to me? Some kind of share issuer or warrant converter?
"company has large profits, not a stinky pinky"
Great if it's true, but can you confirm? Those of us that have been on this stock for a while have seen all the ships sold off, so if there's revenue, it has to be coming from some other source.
Thank you for staying positive here, munhoi. I admit that sometimes my cynicism gets the better of me.
I'm in it for the long haul, but if you new folks can make a few bucks on the way, more power to you. Let's just keep the numbers real and the facts straight.
Cheers,
NightBengal
... and just like that, it's back down to where it was, after a near 4-million-volume push. My guess: Either the CEO or another big stakeholder finally bit and took a huge chunk of the company. Good or bad, we may see resolution on this sooner rather than later -- if only at the next stockholder's meeting where they hostile-push an RS on us... which I wouldn't doubt at all at this point.
You know the funny thing about this... is that Mr. Chu could also buy half the company for less than $30k. Right about now, when the price is low and the share count is high.
If I was ten times the fool I've already been and wasn't certain I would lose every penny of it, I'd consider doing it myself.
I hate to say it because I've chased this one down far too far myself over the years, but until they give some indication that the company has a will to live, then yeah, they're as good as dead.
Would it be nice for them to come back and do something with the receivables and get some ships? Sure, I'm first to admit it, partially because it would mean my own mistakes weren't so big. But until we hear SOMETHING from them, it's all just speculation.
Better some hope than none. But even that needs something real to stand firm. This company hasn't spoken to us all year outside the pathetic shareholder meeting. We have no idea whether they have any plan or whether they're going to let the ticker sit and collect dust. It doesn't make me happy. But that's all we've got right now.
Unless something has happened in the last couple days, I'd say it's just people penny-trading in hopes of a quick shot to the arm. Though it's hard to do that on a stock that just keeps going DOWN...
Seriously, if anyone here that has connections hasn't heard anything, I'm not putting much stock into any kind of volume until the stock moves up, if indeed it does. Still curious why they don't just buy the rest and shut it down, though; it'd take less than $50k at this point.
That EPS of $23 is probably split-adjusted from a couple years ago when TEUFF was still listed on the normal exchanges. No reason to update it until the company shows some manner of will to live.
Seriously, has anybody heard anything? Or if they haven't, how do we actually learn something? I'm about to write this company off. If they've missed out on this much of the shipping rate recovery and have been silent and devoid of any real activity, then I seriously doubt they have any plans other than letting this company mold.
I still maintain that they could just buy the rest of the company if they wanted to take it over or shut it down so badly. It's all worth just north or south of $200k now, depending on the stock tick...
I'm all for a company recovery, but if the worst is coming, then jeez, get it over with already.
I'm new to this board, but I've been hanging out with Box Ship shares in my account for a while now. I'm with you guys on most of what has been said here. But I'm curious about something.
According to Yahoo Finance, and confirmed by Hummingbird below, the total market cap of the company based on most recent stock price is $252k. Think about that: A quarter-million bucks, among people who own multiple shipping companies and have a wide array of assets. Even at the current Ask, that value is only around $400k.
So, that begs the question: If all they wanted to do was seize control of the company and vote how they wanted... why haven't they?
Why go through all this work and red tape in trying to get a massive RS approved? Why keep pushing off and filing more with the SEC and burning through time when they could have the entire company for far less than any of the Board is worth? For less than their RECEIVABLES are worth? Heck, they'd be farther ahead to just shut the company down and start over... but they haven't.
So, what gives? What are these guys really up to? Maybe I'm missing something, but it seems like an awful lot of wasted time and money just to wrest power from us little guys.
Food for thought. March on, fellow investors.
-- nightbengal