- I still hold GRIN and have suffered losses. But still believe in the stock, just shifting my focus to a longer investment horizon.
- GRIN falls in line with the Baltic Exchange Dry Index. But the stock has become indecently undervalued with a P/E ratio of 2.26x and an EV/EBITDA of 2.33x.
- Grindrod Shipping has a fairly young fleet - this is undoubtedly one of the company's key competitive advantages compared to other representatives of this sector.
- I expect a) a post-report rebound in GRIN's quotes and b) upcoming revisions over the next quarter.
- Anyway, I continue to hold GRIN, but I no longer consider it a medium-term swing trading idea - it's a longer-term value play.
For further details see:
Grindrod Shipping: Shifting To Longer-Term Value Play