The only thing that doesn't work in that... is that your description is wildly incorrect.
I thought the offering documents made it clear the preferred wouldn't trade until they converted to common ?
If you didn't want to own the securities that you bought, given the terms they defined well enough, then why did you buy them ?
If you wrongly assumed that buying shares in the offering came with a guarantee that share prices could only go up... I don't see any fault exists other than your own.
Otherwise, "If I sold you something and before delivery purchased it back from you for less how does that work for you?"
That works for me fine... if you're going to be silly enough to buy something you don't want, don't bother to read the description of what you're buying it before you buy it, and then decide you will benefit more, somehow, by selling things for less than you paid to get them, recently, doing that before you should, and at prices that don't make a lick of sense ?
Of course, no one else is responsible for your choices in the market... or the result of them... except you...
Buy low, sell high... makes sense to me.
I still don't expect the market to automatically and immediately recognize what I do in the value of DHT shares, even before the management have had a chance to make proper use of the money they just raised ? Can't imagine that anyone else would be that myopic, either, but, the markets don't have any rules against myopia, or any rules that work to prevent investors from making bad choices they insist on making ?
Buy low, sell lower... doesn't make sense to me.
But, if that's what you want to do... I'll be fine with you doing it, if you can find someone in the market who'll cooperate in allowing you to do that, and will accommodate you in making the effort.
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