There is no possibility of this company ever turning a profit. They lose millions of dollars every day. The CEO has made every possible wrong move for the company for several years. Even if the BDI quadruples, which isn't going to happen, DRYS would still be losing money. They need to scrap most of their permanent money losing panamax fleet to salvage cash. Why are people still pumping this headed for bankruptcy company?
You should wait till after the one for thirty reverse split and the put your order in for $0.40. This company has no prospect to ever turn a profit. They should be scrapping their money losing bulkers.
George has got to own the record for the most losses by a publicly traded company. He has lost billions and billions of dollars and he is very proud of that. He is Greek after all. In Greece they try to see who can lose the most money. The dumbest CEO's in the world.
$500 million in ORIG stock will cover DRYS losses for 2 to 3 quarters. Then what? BK? Dilution? There is no longer a point to diluting even if they could find a new batch of suckers to pay 20 cents a share for this garbage company. Audio doesn't even pump this company any more. That's how bad it is for DRYS these days. The end is in sight.
I heard it through the grapevine. George believes that DRYS can stay above $5 if he does a one for thirty reverse split. Hard to figure out what scam he is pulling this time, but I don't think a one for a hundred could keep this above $5 for very long. Even if the BDI quadrupled DRYS would still be losing a ton of money. Right now Power Ball has better odds than DRYS. It's time to stick a fork in it.
I doubt that a 20 for 1 reverse split would be able to keep it over a dollar for very long. Mr. Economou has completely sucked all the value out of this company.
DRYS should scrap at least ten of their older panamax. This will create the most value for this company in the long run and slow down the cash burn rate. Longs are in denial of the virtual insolvency of this company that loses mountains of money every day. Even if shipping rates were to quadruple, which they won't, this company would go bankrupt. George has done a fantastic job of milking this cow every step of the way and He deserves every accolade thrown at him by the posters on this board. Shipping has been the worst sector for the last decade and George has been able to personally profit all the while as a testament to his legacy. In the end, is isn't how many companies you drove to bankruptcy. it's how big was your house and yacht, how many jet planes did you own, and how many hot chicks did you nail. GEORGE is the BIG WINNER.
That was actually one of her best plays. It did much better than DRYS, WLT, KWK, and the others. The easiest to make money is to short whatever she is buying.
The tankers are the only assets with any value Sell those to yourself and funnel the proceeds back to yourself. Then sell the ORIG stock for $2 a share to yourself and use those proceeds to cover third quarter losses and file for bankruptcy. Retire and write a book about the stupidity of American investors.