Speculative Stock: Odyssey Marine Expl. (OMEX)
Posted: Fri Apr 25, 2025 1:49 amSPECULATIVE $ ONLY…
Do you ever do any quick flip stock trades where you can make good quick $, but the stock is likely NOT a good long-term hold?
If so, check out Odyssey Marine Exploration (OMEX).
Donald Trump signed an Executive Order Thursday about deep sea exploration during stock market hours and OMEX is flying. I’ve confirmed this on at least 4 news sources including the Wall St. Journal and Bloomberg, so this appears to be legitimate news.
About 15 years ago I traded OMEX a lot and it was one of my favorite stocks! I totally forgot about it til Thursday in after hours.
OMEX was up about 100% from 42 to 85 cents in the regular session.
I bought 10,000 shares for $1 just minutes before the after hours close and in a few minutes it went from $1 to $1.10.
I’m getting even more excited the more I study this, but it is still very speculative. Year high was $5.57 on 6/12/24.
The entire company is only worth $24 million. One single party who wants $1 million of the stock could cause it to really move. What if someone made an offer to buy the entire company for perhaps $200 million? That would be nothing for some billionaires!
The stock normally trades 9.1 million shares/day. Before Thursday average volume was only about 5M/day. The float is only 20.6 million shares. Thursday it traded a whopping 262 million shares, so every share traded an incredible 13 times in one day. Whew!
Insiders own 12.3% of shares per Yahoo Finance. Institutions own 20.7%. Combined they have 33.0%, which is way above the 6.9% of shares sold short by bearish parties. I’ve shorted thousands of times in my life. I’d be absolutely terrified if I was short this one right now!
Earnings aren’t til the week of 5/17, so we don’t have to be overly concerned about an earnings warning in the next few days IMHO. Also, I don’t know of any pure play competition that they have, which is potentially beyond fantastic.
Possible negative: Company appears to be delinquent in filing paperwork with the exchange to continue to be traded. (They only have 11 full-time employees) With this kind of price movement, hopefully they could be given an extension.
This will be quite interesting Friday and potentially next week. No idea whatsoever about their long-term future though, so gambling $ only please!!!! And, PLEASE, don’t place any market orders to buy or sell. You could get a horrible price.
If you want to know how wild some stocks can be, consider Newsmax (NMAX), a conservative news outlet. It began trade on the first day (3/31) at $14.00. That same day it closed at $83.51. The first trade the next day was $125.98 ($40+ above the prior day’s close). The Day 2 high was $265.00 in the regular session and about $285-290 in after hours. Oh yeah, Thursday it closed back down all the way to $22.58. I still think NMAX is overpriced.
Back to OMEX- If this goes to $2 to $5 or even $10 and then quickly back down to 50 cents to $1 in just a few days or less, don’t be surprised. Fasten those seatbelts!
Sorry for the length of this message. It should answer most of your questions. Please feel free to reach out if you have other questions.
Do you ever do any quick flip stock trades where you can make good quick $, but the stock is likely NOT a good long-term hold?
If so, check out Odyssey Marine Exploration (OMEX).
Donald Trump signed an Executive Order Thursday about deep sea exploration during stock market hours and OMEX is flying. I’ve confirmed this on at least 4 news sources including the Wall St. Journal and Bloomberg, so this appears to be legitimate news.
About 15 years ago I traded OMEX a lot and it was one of my favorite stocks! I totally forgot about it til Thursday in after hours.
OMEX was up about 100% from 42 to 85 cents in the regular session.
I bought 10,000 shares for $1 just minutes before the after hours close and in a few minutes it went from $1 to $1.10.
I’m getting even more excited the more I study this, but it is still very speculative. Year high was $5.57 on 6/12/24.
The entire company is only worth $24 million. One single party who wants $1 million of the stock could cause it to really move. What if someone made an offer to buy the entire company for perhaps $200 million? That would be nothing for some billionaires!
The stock normally trades 9.1 million shares/day. Before Thursday average volume was only about 5M/day. The float is only 20.6 million shares. Thursday it traded a whopping 262 million shares, so every share traded an incredible 13 times in one day. Whew!
Insiders own 12.3% of shares per Yahoo Finance. Institutions own 20.7%. Combined they have 33.0%, which is way above the 6.9% of shares sold short by bearish parties. I’ve shorted thousands of times in my life. I’d be absolutely terrified if I was short this one right now!
Earnings aren’t til the week of 5/17, so we don’t have to be overly concerned about an earnings warning in the next few days IMHO. Also, I don’t know of any pure play competition that they have, which is potentially beyond fantastic.
Possible negative: Company appears to be delinquent in filing paperwork with the exchange to continue to be traded. (They only have 11 full-time employees) With this kind of price movement, hopefully they could be given an extension.
This will be quite interesting Friday and potentially next week. No idea whatsoever about their long-term future though, so gambling $ only please!!!! And, PLEASE, don’t place any market orders to buy or sell. You could get a horrible price.
If you want to know how wild some stocks can be, consider Newsmax (NMAX), a conservative news outlet. It began trade on the first day (3/31) at $14.00. That same day it closed at $83.51. The first trade the next day was $125.98 ($40+ above the prior day’s close). The Day 2 high was $265.00 in the regular session and about $285-290 in after hours. Oh yeah, Thursday it closed back down all the way to $22.58. I still think NMAX is overpriced.
Back to OMEX- If this goes to $2 to $5 or even $10 and then quickly back down to 50 cents to $1 in just a few days or less, don’t be surprised. Fasten those seatbelts!
Sorry for the length of this message. It should answer most of your questions. Please feel free to reach out if you have other questions.