NEW YORK ( TheStreet) -- Last September, TheStreet sat down with General Maritime (GMR) Chief Financial Officer Jeff Pribor at his company's office in Midtown Manhattan, to discuss the very issues that have come home to roost for the oil tanker operator on Thursday, with its stock tanking by nearly 30%.Namely, General Maritime, known to most by the foreshortened "Genmar," took a huge gamble last June when it acquired seven supertankers for $620 million -- at the time, a price higher than the company's market cap. Having levered up to acquire the ships, the deal looked like the equivalent of buying a call option on the future appreciation of crude tanker rates.
We Called It: General Maritme's Woes Revisited
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