Honestly guys, everytime there is a downgrade the guy is accused of being the left hand of the devil and just trying to load up for himself cause he's some kind of manipulating jerk. Everytime there is an upgrade, there is a chorus of how it's about time that everyone sees the light and this was so long overdue, etc...
If you think this guy is a moron and "he's wrong" go mortgage your house, take every penny you have and put it in this stock.
In your opinion he's actually creating market inefficiencies, (making a stock trade below it's value) you should be thanking him for giving you a chance to steal it away from panic selling, not damning him.
Their earnings power HAS eroded recently, stocks remain high in the goods they transport and in case someone hasn't noticed, credit is tightening. There's nothing wrong with downgrading a stock.
By the way guys, I'm long. But all you guys crying about it is getting really annoying.
as an aside -- we really didnt drop any further than DRYS yesterday. Pull out your 6 month chart and you will note these trade in tandem except we get a larger dividend. dahlman rose had no impact on this stock.