Wednesday, June 24, 2009

Odyssey Marine Down But Not Out

When the courts ruled the Odyssey Marine (OMEX) should return the sunken treasure to the Spanish government on June 4, 2009 Odyssey's stock price lost nearly half its value in a single trading day. Without a doubt this is a huge blow to Odyssey, but the fight is not over. Anyone in their right mind would realize that Odysesey Marine should at least be given a massive finders fee for discovering, recovering and preserving this historical find.

If you caught the program on the Discovery Channel called Treasure Quest you can see that this company is serious about finding treasure. There is a lot of different shipwrecks in the sea and it is only a matter of time before they discover another big find like the Black Swan. Sure this stock is risky, but not as risky as it was at $4. Think of buying this stock like a ongoing lotto ticket, you never know when you are going to strike it rich, but you have a chance and a pretty good one if you ask me at this bargain basement prices.

What do you think about Odyssey Marine's stock, are they a good buy at these levels or do you think they could sink even lower?