Anyone that has been following Drys stock for more than a few months know all about GE. Audio is NOT a dummy. He has been following shipping longer than any other regular poster on these shipping boards.
Audio is correct. GE has stated several times he does not care about investors. His reaction to when investors cried foul over his shady deals (transferring properties between his companies and pocketing the excessive payments):
"They don't have to buy the stock"
Seriously, GE doesn't care a bit about you and by default the DRYS stock. Yes, he owns shares, but he makes much more sucking away assets on the cheap from DRYS or forcing debt upon DRYS.
Read some past articles and google G.E. and corruption or shady and you'll then be wise and prepared for what you see next. Bend over and get ready, only a stop loss can save you now...
The "Big Boys" have little say as to how GE conducts his business...sorry. He could sell some ships to his other holding company for 5 cents and nothing they can do. I will commend GE on not screwing investors recently, but the scary part is he is overdue...hold on to your bank accounts, it might get ugly soon.
The good news is anyone buying back a few months or earlier are getting a very nice yield (vs the current lower yield %) and that will probably grow a few cents a share soon...I hope.
Seems like everyone owns millions $$$ of DRYS shares on here. If I were rich enough to invest in companies owned by crooks, I'd just buy a few islands, build some cottages and rent them to rich vacationers.
Every other post is bragging about owning 100k shares or something ridiculous. For those of you that do, congrats on the recent spike up from the abyss. For the rest of you blowhards, get a second job so you can afford 10k shares instead of lying about your 1k shares as if there 100k.
Come on Phul, give him credit for being an idiot. Geez. It's Christmas week for heaven's sake.
I love it, we get these all the time...
"I told you back in 2007 DRYS would make a come back!"
"I hate to say I told you so, but I predicted DRYS would go up... or down, and I was RIGHT!!!"
Like cockroaches...they come out when they lights go off. As soon as a light shines on GE and his scam, they'll run for the dark crevices, never to be heard from again.
I just got off the phone with GE. He feels really bad about screwing everyone multiple times. He said the Dom doesn't have the same flavor and his 130 ft yatch seems a little depressing now. He is hoping the ride in one of his posh personal jets will sooth his guilt and heartache.
I think we can all safely go long and sleep well at night. He promised no more ATMs...at least for another week.
rjpurg59, you are correct about the #$%$ that is GE. He cares nothing about shareholders, however, one can still make money in DRYS (until the next surprise ATM to generate cash to buy overpriced ships from his other company). So while I know something bad will come in the form of even more dilution or #$%$ed deals trading between companies, I also know the stock price can go up for a ways as many NEW investors are completely and blissfully ignorant of GE's tactics. They'll learn IF they stay in long enough, but many will come and go and make some serious $$$$. I now wish I had doubled my shares when DRYS was in the $1 range. Sigh.
No gap in income means no motivation to work hard. That is why gulags were necessary in USSR. Promise every gets paid equally lousy and no one wants to work hard...why bother working hard, won't get you anything more than you already get doing nothing.
Then come the government goons to whip you and send you off to Siberia to work as a slave until you die. Communism (equality of resources) in pure form is completely ignorant of human's ability to reason.
and the threat of the politicians that wish to buy votes by aiding those that wish to leech and not put in a hard days work.
Only $131 Audiophul? George is looking out for us and only us. He feels really bad about those previous dozen times he screwed the shareholders and wants to make it up to us. I think $500 is a real possibility.
I just now in the green from a small purchase (2000 shares) a few years back...and I feel like dancing...so sad. At least my NM purchase is really doing well and I get a crazy good yield now of over 10% (bought it much cheaper).