The biggest issue i have is the fact GE heralded this share deal as such a great deal and shares would be sold only when the comapny wanted too. But then proceeds to sell as fast as he can despite the obvious effect on the PPS and the major dilution consequences to the common shareholder. It does not matter how good the deal is if the share count grows 100 fold+ in the short term it will kill the PPS.
Yes the shipping sector has suffered, but GE is still an billionaire, and uses other peoples money to enrich himself and support his failing companies. Yes he is a very smart man, but he is also very devious, conniving and downright immoral IMHO.
But GLTU going forward if you think this is a long term trade, i see it the opposite, but that is the beauty of the market. Time will tell but i do seem to have recent history on my side. It will be interesting to see how the market reacts to the cowardly Friday after hours long weekend announcement of such large dilution already.
GL
