I dipped in at 40 cents then almost immediately it goes to 35; bought some more then watch as it goes to the 20s; Sold some of my other holdings and bought a big chunk at 22 cents. So at the moment it's looking really pretty on a few accounts. About to break even on others.
The NTA actually goes up about 5 cents from their half-yearly recently. So it's around $2.15 a share.
Their fleet being relatively new and the writedowns are only paper/accounting numbers not cash losses... So assuming market downturn and oversupply of ships these are now halved their book value... it's still $1 a share and at 40 cents it's 60cents off, at 20 it's basically buying 20 cents on at least $1.
Don't want to speak too soon but have a feeling this could work out very well two to three years time.
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Don't know how this sentiment rating work... I'm not buying at the moment because I have too much on MRM; and whether or not I'd buy it now if I start out... hard to say as it might drop. But you can see my sentiment from above post.
MRM Price at posting:
38.0¢ Sentiment: Buy Disclosure: Held