I like the risk reward at this level. The stock has been in a downtrend for awhile. The news continues to get better. It's a "show me" stock for now. I rarely buy stocks making 52 lows but I will make an exception here.
Buying a Qtr position at $2.25 and will continue to add until I get 25,000 shares.
Lockup expiration coming up. It will be below the IPO price so no one will want to sell it. Just be patient be this will be a 10 bagger one day.
Yes but DRYS had much smaller float at that time. The company issued new shares to raise money over the years. The reverse split with shrink the float once again. It really has no bearing on the stock performance.
Right that's why it's a great time to enter this stock. Very little risk at this price. When inventories are down down the oil prices will rise. Stocks trade 6 months ahead of that though. So this is priced for $40 oil at this level.
They made a great product no doubt. But I believe the stock is dead money for awhile after that lack of earning report. I will revisit if it gets to a much lower price and holds for awhile. I bought it at $47 had a profit at one time but took a loss today when it broke $40.
Year end tax loss selling will take it down further. Most people this year have big gains in other stocks and need to sell some losers. This is why I sold today. Good luck managing your loss here.