Box Ships Inc (TEUFF)

[Toxic Avenger]

Actually far worse.
Hanjin IS in bankruptcy. It dropped about 30% after it filed and it's about 20% of its 52 week high and 6% of its 5 year high.
TEUFF is trading at 3% of its 52 week high and 2/10ths of a percent (.002) of its 5 year high.

So Hanjin is trading like its in bankruptcy, because it is.
TEUFF is trading like it will soon be worthless. You can draw one of two reasons for this:
1. It is very likely to be worthless because as soon as there's enough of a recovery for the banks to feel like they can get their loans paid in , or nearly in, full, they will foreclose and the company will have nothing left after paying its debts and the preferred shareholders OR
2. Every investor who plays penny stocks and those looking for companies with NAV far in excess of their market cap is an idiot who hasn't found TEUFF or has found it, but won't pay more than the 2 cent current price.

For anyone who is leaning toward 2, I'd advise not answering emails from Nigerian princes.

GLTA.