<Wake up one day before Christmas and it's an $18-20 stock. So sayeth the Dog.>
Big;I hope you're right... sad to see the once pride of the patch fall to the bottom. I am not short - see much less risk & better reward elsewhere; but in all honesty; the shorts are going to run this one, right here for everything they've got imho... Not a time to be on margin - owning this at the very least imho.
Big & others; do not mistake my comments on FGI here; they are the Yard of Choice, great company, great management; but - the tale is in the tape... The OSX is up 60-70% ytd - and FGI is a dog with fleas... I "want" FGI to do well, but there is no institutional support, never really has been - and that "short interest" still has some big questions overhanging it... that's why I hear the Institutions aren't interested in playing here....
1. FGI has to address the nature of the short interest, but can they ? if they do - and it is, what many think it is ? are they cutting their own throats ?
2. They have to announce some new orders, bid activity - the backlog decline is "the story" .
3. HLX has its own host of problems - consolidating the number of yards, raising margins, cutting costs etc. FGI has to smoothly integrate their operations and simultaneouly tend to the gaping wounds in both businesses - a tough act...
Holloway had better be like a Baptist Preacher on Easter Sunday , during the road show, to turn this around to $18-$20 imho.
I have no position here in either; but I see FGI getting leaned on heavy here... and ultimately, going long HLX , if you can time the bottom - will be the play.
...about 3.5 Million shares sold by insiders since XMAS - out of a 11 Million share float !!!
biz.yahoo.com
I may just talk myself into shorting this after all (VBG). Look at the recent insider sales... crawford - 800K for $12.5 Million !!!!! and anyone wonders why this is a short magnet ?
I gave up the Holy Grail for this one sometime back... there is no other stock that I find myself loving/hating so intensely... Management has not pleased me with their actions... they've talked a good game, but do as they do (SELL) not as they say...(Buy). |
