dryships got down to the same price per share. With all this cash infusion and potential buyout, why has it remained here at this low level. Informative thoughts appreciated . Bought in today. thankyou
just a thought do you think beucase of the mass sell off of shaw and citadel you had all those new buyers jumping in before the 1 billion was collected, thats why the price did not go down that much from the massive sell off ? we need more new buyers or a big fund to start buying in . wait for these big companies after new years.
Everyone who bought it on the buyout scenario got burned and is throwing it up before year end for tax loss selling.
That and people are presuming the worst for the chemical sector in the current quarter which will probably be the low of the cycle.
With that said the stock at these levels appears to be an outright steal. The unkown is how badly is the quarter actually going to be, or will it be better than everyone suspects?
With a billion in the bank this company should survive and prosper through this downturn. Add a billion or two (maybe three) in the coming Texas litigation versus the banks and this could be a four to five bagger if the economy ever starts to recover IMHO..