Not sure if this really sets any records but this has seen a crazy decline over the last number of years, its clear the market is pricing in bankruptcy on this stock. Its just issued a private placement in its last earnings report, but I was reviewing those reports and it seems like the general trend is down on the losses. So it could well be possible that this company turns itself around and actually make a profit soon.
From an Elliott Wave perspective, it could well be inside an impulse wave as the recent upside over the last few weeks appears impulsive. If can stay above 6.50, then I like the idea of further upside, it needs a few more gyrations to eventually complete an impulse wave, but if it can continue to move forward as shown, then it can still see a bit more upside towards 12.00 before a 5 wave advance is completed
It looks like someone else believes in the “turn-around” story, there has been some big volume over the 6 months.
You can read about the company here http://www.starbulk.com/en/home its a high risk-high reward trade, but if the company can turn around it could well see a a lot more upside over the coming months. I generally dont look at the “funnymentals” but the crazy decline forced me to look at the reason.
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