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Marine Max Stock

Discussion in 'General Yachting Discussion' started by Capt Ralph, Dec 9, 2021.

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  1. Capt Ralph

    Capt Ralph Senior Member

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    So, I was thinking early this year, The marine service company service company that I have never really liked, (MarineMax Inc,HZO) continues buying up marinas/docks, brokerage firms, boat builders and more. There could be an investment with these jokers.
    I purchased 40 shares one slow and low day.

    Boy did I fub up..
    It went lower and has not come up for air since.

    So far, as all they touch, it turns to FUBAR.
    If everybody else is selling and recovering, some very well, WTF is MMs problems?

    Could these jokers please purchase a management company?

    Would anybody have any insight into what these jokers are thinking or was I correct in believing that they are some real screw balls and had a I SFB attack myself?

    With only 40 shares to deal with, it has been more entertainment than a financial issue. But it has re-enforced some things, Yes, I did mess up (if you tell anybody I'll raspberry you) and MM sux.
    Last edited: Dec 9, 2021
  2. SeaEric

    SeaEric YF Historian

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    I bought 100 shares @ 59. when the news broke that they acquired Cruisers. I share you concern but I'm using $$ that I'd consider Vegas dollars. I'm a buy and hold guy. So, hold I will.
  3. Capt Ralph

    Capt Ralph Senior Member

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    Oh, I'm holding my little poker hand also. It's entertainment, better than a soap opera on TV.
    Just wanted to vent and ask if I was off base in thinking, as some other companies are doing well in rec money these days, What is MM smoking?
    Last edited: Dec 9, 2021
  4. olderboater

    olderboater Senior Member

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    I'm confused by this thread. Marine Max is at $56.15. One year ago is was $30.78. March 1, 2020, it was $10.42. Now admittedly it has a 12 month high of $70.89 but that was brief, 12 month low of $30.32. Most analysts still consider it undervalued. I'd still consider Eric's purchase at $59 a decent purchase. Marine Max has performed very well over the last 18 months.
  5. bayoubud

    bayoubud Senior Member

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    Did a hull survey at their yard on Dania Cut-off canal in Ft. Lauderdale, it was busy and well organized. They have bought some prime real estate, should stay entertaining with good boat sales.
  6. olderboater

    olderboater Senior Member

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    While Safe Harbor and Suntex and others go after Marinas, Marine Max and Onewater are still going strong after marinas and boat manufacturers are having some of their own things too.
  7. motoryachtlover

    motoryachtlover Senior Member

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    My first thought is the stock market is probably making a lot of mediocre at best companies look good over the last 18 months. I have not seen there financials so don’t know a lot. But I think it is fair to say that by and large MM is not well thought of when it comes to after the sale service. In Wilmington, NC they do not have a good reputation. I just don’t have much faith in companies to consistently produce profit when they struggle to get it right with their customers. I did hear good things about the MM yard in Dania, but that is the only one. Lets see how some of the companies are doing if the fed removes their “support”.
  8. olderboater

    olderboater Senior Member

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    Marine Max does a much better job for investors than for customers. I could never invest in them, simply as I don't like their businesses, but experts say they're undervalued. Their balance sheet is strong and their profits are the best in years.
  9. Capt J

    Capt J Senior Member

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    OBCI- Starbrite/Startron products stock price is a really good deal right now. Near 52 week low.
  10. Capt Ralph

    Capt Ralph Senior Member

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    2 Year update
    I'm still down $920.40 in 2 years.
    Currently $38.90 / share.

    From my OP, I had a SFB attack and can't give in.

    But I can't give it away now and MM still sux.
  11. Capt J

    Capt J Senior Member

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    GET out, or it's just going to go lower. The covid boom is over and sales are slowing to normal levels. Best to lose a little and get into something else that will go up and make it back.
  12. SplashFl

    SplashFl Active Member

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    Reminded me when I picked up some Garmin. Sounds like one needs to be in Congress to prosper with stocks.
    Wakemaker and chesapeake46 like this.
  13. Capt Ralph

    Capt Ralph Senior Member

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    MM also purchased marinas and service yards.
    I was hoping this would ad value to their stocks.
    Yes, I was wr,,,, Wro,,,, Wron,,,, Incorrect..

    Or, I was correct that MM was/is trouble and this further proves it.
  14. SplashFl

    SplashFl Active Member

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    One of the things I learned during years in commercial real estate was that 90% of the properties were 80% financed so regardless of the name on a title, the true ownership is that of the lender so unless the purchase was a super deal that probably doesn't exist due to limited water front properties, I would not count on additional short term value.
    If you want to make $$$ in the market all you need to do is short whatever stock I purchase. LOL
    Capt Ralph likes this.
  15. Capt Ralph

    Capt Ralph Senior Member

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    Most of my other funds are scattered thru the S&P index.
    Just wanted to pick one myself.

    Another hard lesson learned;
    By March 2009 my stocks were halved. took 9 years for them to come back into a positive line.
    Another big dive that started early 2021. Just now starting to recover.
    Next year (2024), we sell it all and move the cash to a temp savings account (or mayonnaise jar),, just before November 5.
  16. YachtForums

    YachtForums Administrator

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    Funny! :D
  17. SplashFl

    SplashFl Active Member

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    Don't even get me started on "hard lesson learned." My Dad one of the few I know that seems to do ok but far as I know he only buys large stable dividend paying stocks. Covid seemed to be very good for Pfizer that finally went up to a nice for me gain but I let him talk me out of selling in the 50's. Last I looked was 30 so who knows. Sometimes I suspect he only tells me about those he sells at profit. Personally; I'm not buying and I'm not selling. Actually I found for health reasons best I not even look. ;)