Some time last month, I have a cashflow crunch which forces me to sell one of my holdings to raise cash for everyday use. It was a miscalculation and an elementary mistake on my part and selling investments for everyday usage should never happen. Nevertheless, I have to.
I sold 21,000 shares of Rickmer Maritime Trust at a price of $0.295. I sold it because I don't really see how the rental rates of these ships can recover to its current levels. The current rates are about 1/3 of their contracted rates which some is expiring soon. Thus, I took a pre-empt move to sell it even though there is another potential candidate actually.
I hope that I am right this time although it is now creeping up to $0.30. It solved my family cashflow problem so it is still good.
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