Herbjørn Hansson sounded he was trying to "WILL" the stock price up. As to if he is right? He has already been wrong. There is no way to say he was right to contract for those three ships at the beginning of a downturn that is throwing other companies into bankruptcy.
He was not right to be forced to sell more stock because of those ship orders and the company being forced to drastically cut the dividend quarter after quarter.
When your stock is at $14 and you boast on CNBC that your stock is undervalued and your stock is now under $6, that cannot be considered to be "right."
I, for one, will continue to hold and will watch for a possible bottom--but I will not be buying any more. Even if Mr. Hansson announces that he is buying more shares. LOL. If I had followed his lead over the past year, I would really be hurting.
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