Original Source:
Normally, here at Stock Picky we concentrate on relatively safe stocks
for the long term, but I felt like I had to share this one with my
readers! The name of this speculative play is Odyssey Marine
Exploration, ticket symbol (NASDAQ: OMEX). This is a company that
literally hunts for sunken treasure!
Based out of Florida, Odyssey Marine Exploration has over 20 ongoing
shipwreck projects throughout the world. Past projects include the
shipwreck of the SS Republic which brought in 50,000 coins and 14,000
artifacts, and just last year the company announced it recovered
500,000 silver and gold pieces from The Black Swan!
As if that wasn't enough, the company just filed today that it had
filed Admiralty Arrest on two more shipwreck sites. Both of these new
found sites are near the English Channel, but are outside the
territorial waters of any sovereign nation. The sites both contain
cannon and other artifacts which are believed to dated back to the
colonial period.
More good news came earlier this week as they announced they will be
the focus of an 11-part Discovery Channel series. Now this might not
seem like a big deal, but it will certainly bring this company into
the public light, which will most like bring a lot more buyers to the
table and in turn raise the stock price.
Before you get too excited though, let me remind you that this stock
is very, very speculative and you could easily lose your shirt. With
that in mind, I am sure you can imagine what would happen to the stock
price if they made a really big find!
Now for the numbers... Odyssey Marine Exploration has only been traded
on the Nasdaq since October of 2006, with a market cap of only 239
million this is a very small company. The stock has traded between
$7.75 and $4.42 over the past year and today stands at around $5.00.
I look at this as a long term lottery ticket, one that could go down
to zero, but could also win you that big prize. Remember, you want to
be in before they make that big discovery on National Television in
the upcoming documentary : )
$4.97 (05/29/08)
