SPECULATIVE $ 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.
Speculative Stock: Odyssey Marine Expl. (OMEX)
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Speculative Stock: Odyssey Marine Expl. (OMEX)
by Recyclersteve » Fri Apr 25, 2025 1:49 am
Last edited by Recyclersteve on Fri Apr 25, 2025 1:53 am, edited 1 time in total.
Former stock broker w/ ~20 yrs. at one company. Spoke with 100k+ people and traded a lot (long, short, options, margin, extended hours, etc.).
NOTE: ANY stocks I discuss, no matter how compelling, carry risk- often
substantial. If not prepared to buy it multiple times in modest amounts without going overboard (assuming nothing really wrong with the company), you need to learn more about the market and managing risk. Also, please research covered calls (options) and selling short as well.
NOTE: ANY stocks I discuss, no matter how compelling, carry risk- often
substantial. If not prepared to buy it multiple times in modest amounts without going overboard (assuming nothing really wrong with the company), you need to learn more about the market and managing risk. Also, please research covered calls (options) and selling short as well.
- Recyclersteve
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Re: Speculative Stock: Odyssey Marine Expl. (OMEX)
by Recyclersteve » Fri Apr 25, 2025 1:51 am
Oh yeah, another thing. The undersea exploration idea might also appeal to coin collectors.
Former stock broker w/ ~20 yrs. at one company. Spoke with 100k+ people and traded a lot (long, short, options, margin, extended hours, etc.).
NOTE: ANY stocks I discuss, no matter how compelling, carry risk- often
substantial. If not prepared to buy it multiple times in modest amounts without going overboard (assuming nothing really wrong with the company), you need to learn more about the market and managing risk. Also, please research covered calls (options) and selling short as well.
NOTE: ANY stocks I discuss, no matter how compelling, carry risk- often
substantial. If not prepared to buy it multiple times in modest amounts without going overboard (assuming nothing really wrong with the company), you need to learn more about the market and managing risk. Also, please research covered calls (options) and selling short as well.
- Recyclersteve
- Too Busy Posting to Hoard Anything Else
- Posts: 4657
- Joined: Sun Jan 20, 2013 5:59 am
- Location: Where I Want To Be
Re: Speculative Stock: Odyssey Marine Expl. (OMEX)
by Recyclersteve » Mon Apr 28, 2025 10:26 pm
AMAZED there were no replies to this, especially from coin collectors.
Stock closed Thursday at 85 cents and this morning was as high as $2.09. Friday and today combined I traded it 12 times and made $ each time. Not trying to brag, but total profit thus far was $21,871.87. Is this site dying a slow death? There used to be 3-4 regulars who commented frequently when I talked about stocks. Oh well…
Stock closed Thursday at 85 cents and this morning was as high as $2.09. Friday and today combined I traded it 12 times and made $ each time. Not trying to brag, but total profit thus far was $21,871.87. Is this site dying a slow death? There used to be 3-4 regulars who commented frequently when I talked about stocks. Oh well…
Former stock broker w/ ~20 yrs. at one company. Spoke with 100k+ people and traded a lot (long, short, options, margin, extended hours, etc.).
NOTE: ANY stocks I discuss, no matter how compelling, carry risk- often
substantial. If not prepared to buy it multiple times in modest amounts without going overboard (assuming nothing really wrong with the company), you need to learn more about the market and managing risk. Also, please research covered calls (options) and selling short as well.
NOTE: ANY stocks I discuss, no matter how compelling, carry risk- often
substantial. If not prepared to buy it multiple times in modest amounts without going overboard (assuming nothing really wrong with the company), you need to learn more about the market and managing risk. Also, please research covered calls (options) and selling short as well.
- Recyclersteve
- Too Busy Posting to Hoard Anything Else
- Posts: 4657
- Joined: Sun Jan 20, 2013 5:59 am
- Location: Where I Want To Be
Re: Speculative Stock: Odyssey Marine Expl. (OMEX)
by Saabman » Tue Apr 29, 2025 8:13 am
They got screwed on the "Black Swan" expedition. They found this amazing Spanish merchant ship.....Spain claimed it was a gun ship, the US sided with Spain and they had to give all that gold and silver to Spain.
Cerca Trova!!!
Happiness does not depend on what you have or who you are. It solely relies on what you think.
-Sid
Happiness does not depend on what you have or who you are. It solely relies on what you think.
-Sid
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Saabman - Post Hoarder
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Re: Speculative Stock: Odyssey Marine Expl. (OMEX)
by Chaboo » Tue Apr 29, 2025 9:30 am
Recyclersteve wrote:AMAZED there were no replies to this, especially from coin collectors.
Stock closed Thursday at 85 cents and this morning was as high as $2.09. Friday and today combined I traded it 12 times and made $ each time. Not trying to brag, but total profit thus far was $21,871.87. Is this site dying a slow death? There used to be 3-4 regulars who commented frequently when I talked about stocks. Oh well…
Thank you for posting this! I missed it until this morning but have the post and stock on my radar.
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Chaboo - Penny Hoarding Member
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