I said the same thing when it was $2 higher. Never thought it would drop this low. Oh well, a fool and his money are soon parted. Should have jumped ship after the no apparent reason recent spike to $4.40. Greed is a bunch of #$%$.
Falling oil is definitely having an impact, but orig has contracts and will be active for quite sometime. Big thing today is the greek stock market reopened today and took a beating. Lost over 17%. Don't know how much this may be affecting the share price in the US, but it's a greek company, so it can't be good. I believe ORIG has positioned themselves well enough to say afloat for quite sometime. A lot of the selling is probably institutions that can't hold a sub $5 stock. Hoping they'll truthfully let us know what's going on when they report later this week.
Since the whole market is rigged, I'm guessing the mm's are driving the price down. Whatever the final 52-week low for today turns out to be, it should be the bottom, and a good buy in point. Next week I think they'll blow away earnings estimates and the share price will double from today's low. Just as probably as anything you're suggesting.
Better get out of the sun, and take a cool shower. You sound a tad bit delirious. I agree that drys has been using orig as their own personal piggy bank, but they just paid back their loan, so anything that happens to drys doesn't have much to do with whether or not orig share price goes up or down. Additionally, you have no idea where the price of oil is going.
DRYS did pay back the loan by giving up shares of ORIG. Obviously the shares were being used as collateral to secure the loan. Don't know about the 13.50/share, but that doesn't even sound right. They may have been worth that much when the loan was issued, but why would ORIG ever agree to pay that much for them down the road? Especially when they are now not a 1/3 of that value, and it was ORIG's money in the first place. I think your nuts, and I hope you develop rotator cuff problems patting yourself on the back. What a maroon.
Don't ya wonder why they took back shares instead of cash? Evidently thought it was a better deal or that drys may default. Maybe drys is setting up for bk and they didn't want to screw over orig in the process. Who knows? Seems a little shady to me.
I agree. They basically got repaid the $80m that they loaned to drys. Most likely a negative reaction to the div suspension, which also puts more money in their bank. Stock market is a strange and mysterious venue driven by fear and greed. Anything can and does happen.
How could anyone here answer that question? Guess everyone could guess, but accurately, I doubt it. If the price of oil doesn't make a significant rebound I wouldn't expect a reinstated dividend anytime soon. I'll be happy if they can beat earnings estimates again. A new article from Capital Cube suggests they're undervalued and could move $11+, but opinions, expert and not are a dime a dozen.
Good deal when you put it that way, but still just a transfer of funds between 2 companies owned by the same guy. Always gonna look a little suspect, imo.
What did drys originally pay for the shares? If it was more than the $80m orig paid to buy them back it could have been a good deal.
Tend to believe that most people who publicize their stock trades on a yahoo message board are just spewing #$%$. Why would you buy when on an up day?
Since you knew or at least believed it was going to happen it couldn't have been much or a surprise to ya. The real dirty trick was the price surge yesterday and then wiping it all out today. Wouldn't say they're done from here. Just too bad they have to they have to deal with dryships.
Took back 17.6 million shares of in exchange for $80m they owed, which equates to $4.54/share. Cut them a pretty sweet deal considering the stock is trading for less than that.
One of your better posts. Are you actually trying to make a bit of sense? Wound appear so, but still doubt anyone here cares what you have to say.
Guessing the stock was oversold, and numbers for the second quarter are probably going to be better than estimated. Don't believe it had anything to do with oil's rise.
Oil sector is not in favor at this time. ORIG has been drug down with most other drillers. Doesn't really need to be a reason the share price is where it's at. I'm guessing they'll surprise to the upside again on earnings. Maybe that'll push the share price back up. Maybe not.
Going up right now. Someone bought close to a quarter million shares little while ago. Cost close to a million bucks. Suppose orig will surprise on earnings next week?
Bet you wish you had waited for few more weeks, but pretty hard to ever guess the bottom on any stock. I think it will set at least one more 52-week low before share price turns around.
You keep saying 2 bucks, but you never say why other than the div elimination. IMO if they eliminate the div the share price will go up. They'll have that much more cash on hand.