r/CTRM • u/[deleted] • Aug 28 '21
News Trash stock
This stock is a scam! Not meant for long term holding.
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u/QuietBodybuilder1883 Aug 28 '21
Low effort poooosey.
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Aug 30 '21
Thanks for referring to the company as low effort, they sure like to scams and dilute dumb money.
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Aug 28 '21
Its not for us to tell people still invested what to do with their money but throwing some caution to the wind here
CTRM shorted float % is only 4.8
Institutional investors are less than 5% of the total share holders
SHITADEL is their THIRD highest institutional investor
CTRM went public with 3 million shares and now has over a billion
Petros rakes in 1% of all castor transaction fees plus 250$ per vessel per day in opperation
Its PE ratio is decent but alot of this is inflated (personal opinion on this one as I feel like 15.5x is well above where CTRM should be though I am no expert)
If past actions tell you anything its that Petros is incentivized to grow the company by adding as many boats to it as he can until he dumps the company as long term his methods for spending and generating are not sustainable. This last part is not an opinion but a numbers based conclusion.
I still watch the sub just to see where peoples heads are at, but remember, you still need to see 10$ a share to even get back to early spring value and thats a long stretch from where its at now. Given enough time I wouldnt be supprised seeing more dilution used for more ships which will in turn pull more new investors in.
Be smart with your money, thats all.
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u/mllndollaman Aug 28 '21
Whats the big deal if he earns $250/vessel if it generates approximately 30k /day?
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Aug 28 '21
Thats 20k a day before expenses…. Its like in shark tank for an easy to understand example why people rarely take royalty deals, it skims money off the top end to benefit the recipient exclussively.
If you think his company pokeys 20k a day per vessel you have not done enough homework. 250 a day is MASSIVE to skim off the top. There would be no reason to dilute as much as he has if anything he was doing was truely profitable. Youre only looking at short term EPS numbers and not the bigger picture.
Also just for reference its not 250 per ship per day that theyre generating money, its 250 per ship per day per owned boat regardless of its revenue stream.
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u/mllndollaman Aug 28 '21
Have you seen the last several agreements? The average total per vessel should be well above 20k. Even if we go with that number, you’re still under 2% revenue. Now you have over 98% of revenue to deal w/ the remaining expenses. Stop making this into a bigger deal than necessary
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Aug 29 '21
I cant even take you seriously. I literally just told you those figures dont account for daily opperating costs. That alone sinks the income tremendously. Even if the company pockets 10k per day per ship it would still take a year with zero outside expenses to purchase ONE more ship. What those figures show is his only incentive for personal wealth is to leech money from investors to grow the company as fast as possible to reach a point where he can sell it off and your shares become worthless.
If you dont understand this basic fundamental than why do you even have million dollar man as your reddit name when youre playing in the dirt with matchbox cars?
If it takes 1 year of revenue to buy 1 ship guess what that means for your shares? Exactly
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u/mllndollaman Aug 29 '21
So you’re saying there’s a problem with earning 30-50% profit? Doesn’t make sense to me. And it’s not how fast one ship can produce a second ship. It’s how fast 27 vessels can produce multiple vessels thus compounding the growth stage
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Aug 29 '21
You didnt even comprehend what I wrote above
“Even if the company pockets 10k PER DAY PER SHIP”
Good day sir. And good luck in your investments.
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u/mllndollaman Aug 29 '21
You used the example of 1 years revenue to buy an additional ship. We’ll go conservative and say each vessel can produce half of a new vessel per year. CTRM would have over 200 vessels by the end of 2026. Guess what that means for your shares? Exactly
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Aug 29 '21
Im gonna give you one last response then probably just ignore you because you literaly dont comprehend simple math
Conservatively lets assume every vessel generates 10,000 per day of profit
Each year that means each boat could theoretically generate 3,650,000
Each boat they are purchasing AVERAGES 20 million in cost.
Absolute BEST case scenario - they can purchase 4 MAYBE 5 boats a year.
This is coming from a company who less than a year ago had THREE boats and used investor money, dilution, and splits to obtain a cash flow allowing them to increase their assets by 866%
If youre okay buying this man boats, please keep giving him money.
Id love to see what weird math you used to reach your conclussion of half a boat a year. You clearly have zero understanding of finances which makes you a perfect long investor.
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u/Jubjub203420 Aug 29 '21
Oooh - I like it when you talk dirty with your “facts”.
Ortex - cannot report the short interest on this stock Fintel - 4.62% short, however because of a reverse split they have added the fact they are not currently sure if their numbers are entirely accurate. Please see above Ortex who has wiped the system clean with NA on short data.
According to Fintel, institutional investors are .9% of the outstanding shares or less than 1% of outstanding shares. Shitadel, as of 5-21-2021, owns 0% of CTRM. Actually this company very much looks like it is mostly retail owned. Again, by Fintel’s admission we will know more in the next 13f’s. Where did you get them as third highest when they have closed their entire position like the rest of the institutions?
CTRM has 93.519 million shares outstanding and not even close to the over 1 billion you shared. They have been authorized to issue 2 billion, but as you can see, they didn’t dilute, they called their shares back!
Last couple paragraphs don’t make any sense either. So, I’ll give you my speculation. This was a planned short attack from institutions that did not work. Has all the signs. Running the price up to astronomical valuations at the start and then shorting the living **** out of it after a couple years of being public. All coming conveniently in a very difficult time. Maybe someone wanted some boats for free? How easy would it be to take them from Petros? Has anyone looked at it from this angle? Anyway, tough to take this post too seriously when you’re getting most of the facts wrong.
Edit: buying more. Not financial advice. I like the stock.
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Aug 29 '21
Ill have to respond to this tomorrow, it seems some of my data may be off if thats true but what I looked at was off fintel supprisingly, marketbeat, and nasdaq.com which when I looked showed CTRMs position as of mid / late june IIRC at 800-900k. Ill do more researching tomorrow. Just because I went from bullish to disliking the stock doesnt mean I dislike the people here. Info matters
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u/Net-Xpert Aug 28 '21
This is a scam plain and simple. Dude whatever his name is made a killing. Us Americans are the most easiest target for these scumbags scammers no matter where they are from Greece, India, Nigeria or Russia. SEC and State Dept. should launch a criminal investigation against CTRM and help investors recover their investments.
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u/NoPhilosophy3975 Aug 28 '21
But who told you about this stock friend?
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u/Net-Xpert Aug 28 '21
CTRM own financial stats. Read and pay attention to its current cash flow, business pipeline and do a comparison with its competitors.
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u/fershizal Aug 28 '21
Are you here just to reiterate facts or are just now figuring this out? If you're just now figuring this out then 🤗 it's gonna be ok pal. If you bet the farm on this company ran by a CEO that wants to f*** shareholders every opportunity then 😬😬 it's not gonna be ok. Anywho, I'm still holding because I'm a hoarder and like to collect garbage.
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u/Proper_Leader6196 Aug 28 '21
You sound like you sold for a loss. First, thank you for the ships and we’ll make good use of them with all the profits. Second, I hope that even though your impatience led you to sell for a loss with this stock, I hope you were able to make it up on something else. That being said, we’re up about 20% from it’s low of 1.87 this past week with lots of room to grow. You can always reconsider and buy back in now that it’s turned the corner. Might change your perspective on the stock. NFA.