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Hey everyone. I own stock in Genco shipping (GNK) and I haven't been following it too closely over the past few months because I've been busy with college and other things and to be honest my investment isn't large enough to warrant much attention...

Anyway... Why has GNK dipped so low. I thought it was a steal at $15 and now it is down to $11.70 I don't understand why? Can anyone who knows what has been going on in this industry or with this company fill me in?
The stock looks incredibly cheap looking at the fundamentals. P/E of 2.70 P/B of 0.38 P/C 1.53 and it has nice margins. On the down side it has a debt/eq of 1.58 but that ratio doesn't warrant that cheap of a price...

Something must be going on someone please help me figure this out.
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