Ask KEM -- better yet, pull up all her posts where she said DRYS was a steal at $1.40 because GE and Blue Mountain pumped large amounts of cash in by buying massively at that price. Surely, they knew the value was there, right? I'm still snickering about that.
As long as the drybulkers are losing money... and they ARE losing money... the stock is going it keep on sinking.
No, you got it wrong. They did a debt-for-equity swap. They did not have the cash to pay 40M @ $9. The stock they got was newly issued. That's dilution. You people are really amazing at your lack of fundamental investor concepts.
Yeah, I lost out on the chance to watch my investment fall from $1.55 to $0.80. I'm a loser all right!
When you issue new shares for any reason, that's dilution. You think somebody donate their ORIG shares to GE?
I'll tell you what is going on... GE just diluted ORIG to replace debt with newly issued shares. It will keep happening. Stock volume today is so low it seems nobody has even noticed. When the news takes root, the stock will tank.
I can't wait for the market to figure out that George just diluted ORIG shareholders. And being a majority shareholder, he just diluted DRYS as well.
I think DRYS investors in general are just plain stupid.
Yep. The shelf offering is already registered, so it can happen at a moment's notice. George gains management fees. You lose your money.
They are too busy talking about the reverse split, and the huge potential for price gains. Too bad DRYS is losing money. Hard to see their path forward, when drybulk rates and the BDI will stay at this level for years. Long after DRYS has run off their 12 to 18 months of runway, crashed, and burned.
Many of those shares are pledged to others. It's like saying you own your house, when the bank really owns 80% of it.
Ha! Blue Mountain had no trouble buying, and then dumping shares at the current level. A RS is a total non-event. No matter if the stock is 75 cents, $7.50, or $15, it's got nowhere to go but down.
You'll retire all right. From trading. Because you will be broke. DRYS will indeed reach $1.35... after the reverse split.
Drybulk market will get worse over the next few years. Only way out is for some of the weaker hands to fold. DRYS is definitely one of the weakest.
Where else can you find a stock that fell from over $100 to under 70 cents. With a certain reverse split ahead. But wait, there's more. If you call in the next 10 minutes, I'll throw in a free shelf.