I've been saying all along that I don't think China will recover quickly... then you have additional ships being added. These companies will be in a bear market for foreseeable future.. blue probably figured it out.... worse stock to own is a reverse splitter that will continue operating in a bear market.. nothing worse.
Thats the purpose of R/S
Most likely they will wait untill blue is done dumping
Sleep why do you think blue is a seller even at this level
Dont they see what pumpers see?
Probably a 1 for 10 reverse.. I don't see it being much more.. that'll bring it back below 50 millions shares and bring price up to about $7/share... will probably see that $7 get cut in half and then stabilization. Will DRYS dilute right after the reverse split to get as much as they can before price declines again?... yeah probably.
Right now there are probably a dozen Greeks gathering funds to buy fifty more drybulkers, thinking they will time the market. And they will be wrong, the ships will be built, and rates will stay in the toilet. As will DRYS. It won't survive. Bank on it.
good call millsy. you are the best.
Jr $20m is nothing to these pumpers
Do they even know how many zeros 20m has?
Besides that idiot kem has to keep pumpin otherwise her ex. R ecccku will cut the payments
Well I have done DD.. And if a flea from my neighborhood, Jumped on this dog.. We wouldn't let him back into the neighborhood.. Hard enough keeping other crazies out!
"This stock is a dog with fleas." And you're an alley cat. In other words, name-calling isn't research.
"Do they even have a business anymore?" You fail to perform even the most very basic due diligence.
Mills, why are you so focused on the ships? 80% of drys revenue and assets are all in orig...
You are giving GE credit for something.. We have never seen in the past.. If Drys gets $525M from sell of tankers? He will never use all that money to pay off loans? As of right now.. To sell those tankers.. He tells, what is borrowed against those tankers, that will have to be payed off.. Before he cn buy them for his self.. And in past. In deals like this.. Cardiff has been charging Drys about 30% commision for selling or buying anything? So look for debt to drop about what is borrowed against those tankers.. That ABN loan.. Has nothing to do with tankers.. From googling, Compass Maritime weekly.. trying to figure out what the worth of bulkers are.. You are free, to do the same! My conclusion.. Whole bunch may be worth $494M? Those 13 Capes worth about $20M apiece.. Those 24 Pany + 2 Supra. Worth about $9M apiece.. But Compass said one shipper trying to sell 13 bulkers for like $550M? That does not compute? Unless those bulkers are like newbuild Capes? They didn't say what kind of bulkers they are.. But right or wrong.. And I could be way off, on value of those bulkers? When smoke clears? I think Drys will still have about $1B debt.. "MAYBE" $100M-$200M in equity, in that Orig stk.. Don't forget $320M is borrowed against Drys equity in that Orig stk.. I think! Orig will be lucky to keep trading at $7. per shr? $7. X 78M shrs...As for what value of bulkers are?? Only way we will ever know that? Got to have seller and buyer to agree on a price? Funny part! With those tankers.. GE is seller and buyer.. If he is buying for his personal fleet.. Who you recon is getting the best deal? But as I think Drys is close to BK? GE got a a third party.. To agree. That is fair price for those tankers... Not that I think they are worth that much more? To these clowns! What difference does maybe $20M make on that kind of money.. Have you ever done a little paper work and made $20M? In fact: Will you ever make $20M in your whole life? Where is William Money, when you need him?
Goodwill has no value anyway. Write it off. I look at tangible net worth. You do understand the definition of tangible net worth. Ask your boy Millsy, he might be able to figure out. When was the last time you saw a bank use goodwill as collateral?