What you warn is true. In fact a 10 year investment would have yielded -99% return in SHIP or TOPS. Shipping has had a dismal decade... but I think they've hit bottom and have finally left Davy Jones's Locker... at least for the next year++. Everytime I live through an offering, hindsight tells me I should have sold on the announcement, then open a short and buy to cover close to offering price and then wait for things to settle before riding the wave back up. That trade opportunity didn't present itself today. Looks like they are keeping the price tightly controlled, which is good actually. Haven't seen the prospectus, I just hope that they didn't give them 30 more days of additional time to purchase shares... that would hurt our momentum. The Baltic Index Rose 17.5% today to 1756. China has reopened for business now that the Lunar New Year Holiday is over. SHIP probably would have had a strong green close today if not for the pause to fill this offering, but I remain positive that this will go over 3.
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