Seatrium Ltd    Last:1.93    -0.03

Seatrium everyday being heavily short sell

0.093 buy up volume 158,713,800  is more than the selldown 106,037,800.
institutional funds and investors are accumulating 
dyodd

 

Heavy shorts at 93. Will short squeeze happen later?

 

55% shorts today
 

Trade Date		Open Price	Day High	Day Low	Closed Price	Change	%	Volume	Value	Short Sell Volume	BuyBack Volume
2024-02-29		0.088	0.090	0.087	0.090	0.003	3.4	544,519,300	48,418,852	299,612,500

 

Just curious why you think rights issue is necessary going forward when gearing is at 0.12x, they are free cash flow positive and core operations turned profitable in 2H23? I would have thought that current balance sheet and capital structure is healthy by any standards.

tonytony      ( Date: 28-Feb-2024 22:03) Posted: More right issue moats after consolidation . How to issue right at current price ?

 

To be annouced only after 26th Apr AGM voting... lilely 1st or 2nd week of May.... still quite far away.

LaPeriwinkle      ( Date: 28-Feb-2024 14:14) Posted: When will the consolidation happens? Is it worth to wait longer to enter?

 

More right issue moats after consolidation . How to issue right at current price ?

 

waiting for approval. 20 into 1, theoretical prics is $0.087 x 20 = $1.74. 
Ex-date will be less than a dollar and it create more room to drop..... just wait and see.....   

LaPeriwinkle      ( Date: 28-Feb-2024 14:14) Posted: When will the consolidation happens? Is it worth to wait longer to enter?

 

Trade Date		Open Price	Day High	Day Low	Closed Price	Change	%	Volume	Value	Short Sell Volume	BuyBack Volume
2024-02-28		0.090	0.094	0.086	0.087	-0.003	-3.3	931,974,500	83,263,731	390,499,999

 

When will the consolidation happens? Is it worth to wait longer to enter?

 

Meaning? Sudden burst up will make shortist panic for sure. 

aragosta      ( Date: 28-Feb-2024 09:25) Posted: --- Post Removed by User ---

 

Trade Date		Open Price	Day High	Day Low	Closed Price	Change	%	Volume	Value	Short Sell Volume	BuyBack Volume
2024-02-27		0.091	0.092	0.088	0.090	-0.001	-1.1	686,597,700	61,822,022	284,085,000	-

 

Long torm fund contributors to feed the dead woods

newbie1118      ( Date: 27-Feb-2024 18:48) Posted: None of long term holder making money. No wonder so many jus hit n run. naoshingo      ( Date: 27-Feb-2024 14:32) Posted: Watching horrow movie now ...all blood 😕

 

None of long term holder making money. No wonder so many jus hit n run.

naoshingo      ( Date: 27-Feb-2024 14:32) Posted: Watching horrow movie now ...all blood 😕

 

Watching horrow movie now ...all blood 😕

 

Serious Investors don&rsquo t just listen to the management talks abt the company good prospects going forward, what we want to see is real earnings. The near to $2b losses is not a small amount, just the interest itself is huge! Further more consolidation of 20 to 1 doesn&rsquo t help, it frightens many investors. Look like Seatrium shares would dip further when consolidation approaches. Who knows how far it can drop before seeing light at the end of the tunnel. 

 

Good for right issues , not easy to issue right for penny stocks .

 

Seatrium share consolidation: Good for investors and bad for punters, say brokers

https://www.straitstimes.com/business/seatrium-share-consolidation-good-for-investors-and-bad-for-punters-say-brokers

 

Operation Car Wash: Seatrium agrees to pay S$182.4 million settlement in Brazil corruption scandal
Settlement agreement 'ensures that we are able to continue to participate in tenders and other bidding projects in Brazil', says chief executive

https://www.upstreamonline.com/finance/operation-car-wash-seatrium-agrees-to-pay-s-182-4-million-settlement-in-brazil-corruption-scandal/2-1-1603351

 

https://www.youtube.com/watch?v=jwWLgjFVVs0

 

Even so, it should be trading at X% discount off book value because this is the only valuation model for it

$0.084 or $1.68 per share after consolidation

Normally such bad results some invisible force will support it during first trading day of results announcement when market expects it to crash.

I expect this to trade around 84/85 en route to consolidation AGM or EGM in April

Tob231      ( Date: 26-Feb-2024 19:57) Posted: Seatrium is a hero, saved so many entities ....  and now the remaining cargo.  Enter the year with a clean new fleets .... calling all stations get ready to move During the year, the Group strengthened its balance sheet with a stronger liquidity position and improved debt maturity profile. The Group proactively secured over S$3.5 billion in new loans, refinancing, and trade financing, including over S$2.5 billion in green or sustainability-linked facilities3. In addition, the Group collected almost S$1 billion in receivables from Borr Drilling two years ahead of time and increased its cash holdings to over S$2 billion, with undrawn committed credit facilities of over S$1 billion. Net gearing was 0.12 times as at 31 December 2023 compared to 0.26 times as at 31 December 2022. newbie1118      ( Date: 26-Feb-2024 19:12) Posted: I do agree normally share consolidation is viewed negatively. However for Seatruim' s case I veiw it differently. They have to reduce the size of total float in order to attract more foreign fund to be interested. What' s the most important now is for the company to start reporting good profit and the confident of investor will come back. Now the sentiment for this counter is at rock bottom. Winning new contracts alone is not sufficient. Must show good profit to win back investor