Took out my stop for the second time. Same pattern as before. Tiny bid hits until they've got it as close to previous lows as possible and then they barrel hard right into support, always stopping just short of -10% because of the uptick rule which won't allow them to sell short on bid after a stock has fallen -10% or more on the day.
Short interest is gradually increasing here. I'm back on the sidelines once again until bears are done.
FREE is now trading at a lower Market Cap then what their assets alone are valued and even lower than the $25 million dollars they raised in the recent Preferred Stock public offering. Ridiculous valuation here when you compare it to all the other shippers, even with the entire sector currently at its all time low.
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