5 Best Industrial Disributor Stocks To Own Right Now: FreeSeas Inc.(FREE)
FreeSeas Inc., through its subsidiaries, operates as a bulk transportation company. The company transports various drybulk commodities, including iron ore, grain, and coal, as well as bauxite, phosphate, fertilizers, steel products, cement, sugar, rice, and minor bulks. As of December 31, 2010, it owned and operated nine vessels, including seven Handysize and two Handymax dry bulk carriers. The company was formerly known as Adventure Holdings S.A. and changed its name to FreeSeas Inc. in April 2005. FreeSeas Inc. was incorporated in 2004 and is based in Piraeus, Greece.
Advisors' Opinion:- [By Bryan Murphy]
September is on pace to be a banner month for shipping stocks FreeSeas Inc. (NASDAQ:FREE), DryShips Inc. (NASDAQ:DRYS), and Eagle Bulk Shipping Inc. (NASDAQ:EGLE). They're up 290%, 62%, and 115%, respectively, month-to-date, overcoming an amazingly long dry spell. The question is, why have EGLE, FREE, and DRYS been so strong all of a sudden, and more than that, are these rallies built to last?
- [By Bryan Murphy]
The last few weeks have been, shall we say "interesting" for maritime shipping stocks like FreeSeas Inc. (NASDAQ:FREE), DryShips Inc. (NASDAQ:DRYS), and NewLead Holdings Ltd (NASDAQ:NEWL). The strong rise in the Baltic Dry Index - the average daily charter rate of a dry goods vessel - since mid-August (and really since early June) has meant maritime shippers can charge more for their services, and who knows? Maybe they can even turn a profit sometime in the foreseeable future. As a result of that possibility, DRYS gained nearly 100% in a little over a month., NEWL was up as much as 70% at one point in late September, and FREE advanced nearly 300% on the heels of the Baltic Dry Index's runup from 1000 to more than 2000 in just a little over a month.
- [By James E. Brumley]
October wasn't an easy month to own FreeSeas Inc. (NASDAQ! :FREE), NewLead Holdings Ltd (NASDAQ:NEWL), DryShips Inc. (NASDAQ:DRYS), or any maritime shipper for that matter. They were all down rather sharply after heroic runups in September. DRYS fell 22% last month. NEWL slumped 41% in October. FREE gave up 44% of its value last month. What happened? After all, these same stocks were among some of the hottest names in September. In simplest terms, what happened here is what happens all too often... the market "got it right" in terms of the premise, but overdid it. Now that the dust is settling though, the undertow is kicking in again, but this time at a more reasonable/sustainable pace.
source from Top Penny Stocks For 2015:http://www.topstocksforum.com/5-best-industrial-disributor-stocks-to-own-right-now-2.html
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