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|Subject: trap or opportunity||Date: 1/10/2013 10:29 AM|
|Author: altstrat91||Number: 34640 of 35400|
you would be surprised in the high yield or more junky arena of corps, how many of these companies are breaking even or come in at a negative EPS when all is said and done.
initially i took a small position in this company because low & behold, they actually are making money and provide a quantifiable unique service which there is demand for!
but the price action has not been good very recently, in the last 7 trading days. with this kind of rally in any kind of corp YTD, something might be going on here.
there definitely is one large seller who has been possibly trying to unwind a position as he has been literally sitting on the ask and keeps driving it down to fish out buyers. currently showing >1000 of these for sale.
Global Geohphysical Svcs (senior unsecured classification)
cusip = 37946SAB3
coupon = 10.5%
float = $250MM
redeems = 5/1/2017
trading @ a near 11% discount to par = nearly 14% yield
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