General Maritime Shares Popped: What You Need to Know (GMRRQ.OB)

General Maritime Shares Popped: What You Need to Know

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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of crude oil transporter General Maritime (NYSE: GMR ) were in ship shape today, gaining as much as 23% in intraday trading on heavier-than-average volume.

So what: It would appear that General Maritime shareholders have Rady Asset Management's Harry Rady to thank for the big jump today. Shortly after the market opened today, CNBC posted a video in which Rady said he sees value in General Maritime shares, thanks to a low cash flow multiple and a discount to book value. He suggested that if certain events go in the company's favor, the stock could triple.

Now what: One of my guiding principles as an investor is that I don’t invest in anything simply because somebody else gives the green light. It doesn't matter if it's Harry Rady, David Einhorn, rich Uncle Bob, or Warren Buffett. However, when another investor makes an interesting case for a particular stock, there's nothing stopping me from flagging it for more research. And considering the value metrics that Rady offered on General Maritime, it could definitely be worth a closer look.

Want to keep up to date on General Maritime? Add it to your watchlist.

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The Motley Fool owns shares of General Maritime. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Fool contributor Matt Koppenheffer does not have a financial interest in any of the companies mentioned. You can check out what Matt is keeping an eye on by visiting his CAPS portfolio, or you can follow Matt on Twitter @KoppTheFool or Facebook. The Fool’s disclosure policy prefers dividends over a sharp stick in the eye.

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