- Company recently raised almost $40 million in gross proceeds from a series of aggressive financing transactions. While the move greatly benefited both balance sheet and liquidity, shareholders suffered massive dilution.
- Potential for additional near-term dilution remains high as the company is eyeing further fleet expansion.
- After the recent 1:100 reverse stock split, the stock provides an almost perfect setup for a momentum rally similar to the one experienced by DryShips in late 2016.
- With share count reduced to just 1.76 million, the stock trading at an almost 75% discount to NAV and no toxic securities outstanding, the shares could be discovered by the momentum crowd at any time now.
- While investors should continue to avoid Globus Maritime and most of its peers, momentum traders should have a close eye on the stock in the near-term.
For further details see:
Globus Maritime - Momentum Rally Might Be In The Cards