However, they are still a small-cap stock with a market cap of $932 million and an enterprise value of $1.10 billion. Who is Great Lakes Dredge & Dock? They are a 138-year-old company and are the largest US dredging firm. With Great Lakes Dredge, the battle sets up as a government-supported basic and essential services firm with interesting growth opportunities versus SPACs, GameStop mentality, and speculative high techs.īefore and After: Sand Island and its 138-year-old lighthouse. Much like investing, champagne and reefer should be preferred over higher-risk cocaine for most individuals seeking an "attitude adjustment". You can bet your bottom dollar / I ain’t usin’ no cocaine. Well you know I'm gonna stick with my reefer / Ain't gonna be messin' round with no cocaine. Bring me reefer when I want to get high. But it is good, stable, and profitable work.īring me champagne when I'm thirsty. What could be less glam than moving the seabed from Point A to Point B. Investors could look to lower-risk growth investments with a bit less glam than the latest SPAC, and Great Lakes Dredge is worthy to be on that list.
The lyrics of 'Champagne and Reefer', written by blues legend Muddy Waters in 1981, speak to different ways to achieve an "attitude adjustment". This is not an article about Moët & Chandon or Thai Sticks, high-end alcohol distillers or pot stocks but rather how underfollowed and underappreciated Great Lakes Dredge & Dock ( NASDAQ: GLDD) should fit into a portfolio bucket titled “bought primarily for capital gains”. Photo by Focus_on_Nature/iStock via Getty Images
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