An email I sent to a larger audience...
Subject: GMR Update...new post merger trading valuation occured today
Please see my emails from Wed and Thursday as reference. We nailed it. My suspicions last week were correct. The selloff did finally occur, as we knew it would/should; luckily we were smarter than the market and knew that it should have occured simultaneously as the share increase (dilution), but it didn't. For some reason it took the shareholders a few days to do the analysis, and thus was an all out gift to us by them last week. I sold a majority on Thursday and saved myself a few $s. Today's price is roughly equal to the pre merger price of $15.00. From a valuation standpoint we are at the same level we were early last week ($15.00/1.34 more shares we received).
I still feel the same about the long term prospects of GMR...a buy. I will be looking to buy again once the next market sell off occurs. $2.00 divy is still their target and should be easier now with the new acquisition (yield of 20%+). At lower levels GMR will also be a takeover target as its price approaches the value of the fleet on its books.
Good luck.
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