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 Seaspan
So what: Management aims to restore confidence following a sharp sell-off in shares of not just Seaspan but a variety of shipping stocks, including DryShips
Now what: Yet spending $150 million to repurchase shares at a premium might be overdoing it. After all, if the shares are cheap, wouldn't management create more value for shareholders by purchasing at a discount or increasing the dividend? Let me know what you think using the comments box below.
Interested in more information about Seaspan? Add it to your watchlist by clicking here.