NEW PICK, CTRM. 3/4’s Entry. Careful, Risk Of Trading Halt, But Likelyhood Of This Very Low. Sell the Spike

One of those Greek drybulk shipping stocks. A new one on the block. 

Common shares outstanding is currently 2,400,000 

We are incorporated in the Republic of the Marshall Islands, which does not have a well-developed body of corporate law, and as a result, shareholders may have fewer rights and protections under Marshall Islands law than under a typical jurisdiction in the United States”. 

Shareholders’ Equity: $9,474,582 

6/28/19 “We have entered into an equity distribution agreement with Maxim Group LLC pursuant to which we may issue and sell up to an aggregate of $10,000,000 of our common shares. Maxim Group LLC may sell our common shares by any method permitted by law deemed to be an “at-the-market”offering (F-3 approved by the SEC on June.21st for 100 million). Commission equal to 3% of the aggregate gross proceeds” 

Doesn’t get more obvious than this…. 

1.2 billion votes………….Better believe the SEC will be watching this closely, so there could be a risk of a trading halt. This guy is sloppy, and clearly doesn’t care about subtleties. If it starts going supernova intraday, like 200% or more, immediately sell. Don’t push your luck. This stock reminds us of HUNT, a SPAC that went up 10 fold in a week, only to be immediately delisted by the the Nasdaq. They were Chinese though, so maybe that played a part. At the time, Chinese trade war talk angst was at its highest, and maybe the SEC didn’t take well to them coming into their capital markets and manipulating stocks, but this is all just speculation.

HUNT was very unusual though, something that happens once every few years. Delisting risk is low, and there is no tangible evidence to predict if this will happen, but if it does, you could be holding this stock for a long time, but considering all the other scams floating around, Castor isn’t really that bad.

In reality, they are just a small shipping company looking to raise funding in foreign markets, its just the price action is suggestive of market manipulation. Regardless, we wish you luck Castor, your industry has been hit hard. Godspeed, and good luck everyone

Panayotides family targets New York listing with ‘Spotify model’, Tradewinds reports

Gabriel Panayotides & family, Forbes

Gabriel Panayotides, filings

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