As we know, Sembmarine issued a profit guidance for Q4 2015 stating that the quarter will likely see a net loss with the full year result affected accordingly.
I'm vested in SCI, naturally this becomes a concern for me. I did some quick research on SMM.
First ever net loss quarter for SMM
This would be a first ever net loss for SMM. A quick check on their quarterly showed that SMM has always registered a profit for each quarter.
I'm guessing a large part of this net loss is attributable to the reversal of profits pertaining to Marco Polo (either on a prudent basis or with consultation with their auditors on the accounting treatment).
SMM closed $2.06 and is heading for trouble
Looks like SMM will definitely open below $2 on Wednesday morning (3 December 2015) and possible heading to the $1.60-1.80 range.
"I will ......