Investors Snatch GSL Even Cheaper Than Its Secondary Stock OfferingBy Market News Video Staff, Monday, January 25, 1:54 PM ETLooking back to 3 days ago, Global Ship Lease, Inc. (NYSE:GSL) priced a 5,400,000 share secondary stock offering at $13.00 per share. Buyers in that offering made a considerable investment into the company, expecting that their investment would go up over the course of time. In trading on Monday, bargain hunters could buy shares of GSL and achieve a cost basis even cheaper than those buyers, with shares changing hands as low as $12.94 per share. Secondaries can often present buying opportunities for bullish investors interested in purchasing shares, because the sudden extra supply of stock tends to require that the offering be priced at an attractive discount to where the stock had previously been trading before the offering announcement. At last check, Global Ship Lease, Inc. shares are currently trading off about 1.2% on the day. The chart below shows the one year performance of GSL shares, versus its 200 day moving average:
Looking at the chart above, GSL's low point in its 52 week range is $2.61 per share, with $17.69 as the 52 week high point — that compares with a last trade of $12.95. Special Offer: Receive our best dividend ideas directly to your inbox each afternoon with the Dividend Channel Premium Newsletter
This Article's Word Cloud:
Buyers
Channel
Dividend
Global
Lease
Looking
Monday
NYSE
Newsletter
Offer
Offerings
Premium
Receive
Recent
Secondaries
Secondary
Ship
Special
Start
Stock
about
above
achieve
afternoon
announcement
attractive
average
back
bargain
basis
because
been
before
below
best
bullish
buyers
chart
investment
last
offering
point
priced
share
shares
stock
that
trading
week
with
|