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***DRYS Thread***

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Views: 4788
Posts: 145
 
Captain
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Joined: Jan, 2007
Posts: 8145
Posted: #126
I'm in with you guys .. just bought 2000 shares @ 3.81 


 
Captain
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Joined: Jan, 2007
Posts: 8145
Posted: #127
up to 4.01  Keep going..
 
Prospect
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Joined: Sep, 2008
Posts: 306
Posted: #128
We need George to announce their CC and let us knew whats going on here. I would love to hear about the final bank coming to new terms and that no shares were sold or say only 20million shares at an average of $7.50.  This is the stuff that people don't like about Georgie a little info would be very nice.

Here's a nice thought for an artticle on DRYS. drys renegotiates covenants with final bank. ceo says no new shares have been or will be sold. that would make drys fly to $10 in 2 days even on dow -250 days.
 
Prospect
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Joined: Sep, 2008
Posts: 306
Posted: #129
It looks like the BDI will head lower in the short term. rio's rail system was flooded so it has made delays for vessels. it will be interesting to see how much this effects the bdi in the next couple of days. This could lead us to another surge in the bdi once the rail system gets fully operational. the european activity seems to be helping the bdi stay level.

 A partial resumption of rail services will start on Feb. 28, he said.



https://www.hellenicshippingnews.com/index.php?option=com_content&task=view&id=37434&Itemid=94
 
Covers Linesmen
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Joined: Feb, 2003
Posts: 56849
Posted: #130
Bot 1k shares today..lowering my basis for sure.

Todays news doesnt shock me..they finalized the covenant issues, which WERE NEVER AN ISSUE in the first place. It just gave stupid shorts the reason to sell it off and crush the company. I said from day one that banks werent interested in taking back assets in this environment and DRYS had never not paid on obligations, so it was a bunch of bullshit to drive the stock down. I had zero doubt as to them getting the covenant issues taken care of.

Earnings are tonite..I am curious as to what George says tomorrow regarding this 500M share issuance and why..the WHY is killing me here..it wasnt because some bank was twisting his arm, so WHY then? Maybe he is trying to purchase some assets on the cheap or store some cash to be able to arrange fiancing for the other two drillships on order and keep Cardiff in the loop..I dunno but that is what I am interested in, that and any charter defaults.
 
Veteran
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Joined: Jan, 2006
Posts: 2704
Posted: #131
Did DRYS release earnings
 
Covers Linesmen
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Joined: Feb, 2003
Posts: 56849
Posted: #132
VH2,

I wouldnt doubt that he goes tomorrow morning and has a CC at the same time versus late release and early CC.

So what is your opinion on this dilution now that it has nothing to do with the banks and their requirements?

That is what I want to hear about..and any second party issues.
 
Veteran
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Joined: Jan, 2006
Posts: 2704
Posted: #133
Wall -

I'm looking to have the following questions answered:

  • Why the hell did he dilute at such low prices?
  • What will he use this cash for?
  • Any counterparty defaults coming down the pipeline (although i've read they people they ship with are solid companies.
  • What is going on with the spin off / 2 rigs on order
  • did he renegotiate with any other banks?
Those are my main questions.  how about you?  I personally feel he diluted at this low level to use the excess cash for the two rigs that are on order.  Has to be.  I don't see any other reason why he would do it if banks weren't forcing him to. 

He uses this cash to paydown most of the remaining payments . . . then spins off the rigs on the new company. 

I might be way off . . . i'm interested to hear what the next 12 months holds though.  if he tells us. 

How many shares do you think he sold?


 
Prospect
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Joined: Sep, 2008
Posts: 306
Posted: #134
the earnings release is really whats eating the longs of drys. we watch daily as good news which should shoot drys up 30% gets pushed off a cliff the minute trading begins. thats why i believe he's still selling now. i thought they were already done by now.

I have my trigger finger ready to get some more shares soon.

Walls
 today i do believe the shorts pushed this down or i really hope they did. because it would be very stupid to take away drys momentum after news like that to sell at this lower price. when they announced the pireaus bank deal they let it move up 2 days and then i started selling into it.

GE get your ass into the conference room and starting talking soon. I expected this weeks ago but i have to admit im getting annoyed with the lack of information we're getting.
 
Prospect
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Joined: Sep, 2008
Posts: 306
Posted: #135
Well no news today about an extension on drys share issuance. i think they had until tomorrow to announce an extension so the selling must be done.

drys from here should move up next week, if they dont extend.
 
Legend
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Joined: Dec, 2001
Posts: 85256
Posted: #136
just went long 3k DRYS @ 3.02
 
THIS shit is getting SILLY. ANY market turn and it's a double of triple with almost 14% short.
 
will add IF it keeps going down to the $2 range.
 
Legend
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Joined: Dec, 2001
Posts: 85256
Posted: #137
WOW, just broke below $3 to interday $2.97
 
Covers Linesmen
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Joined: Feb, 2003
Posts: 56849
Posted: #138
This market is smashing everything but GOOG and AAPL.

How is GOOG not at 100 and AAPL at 35?


 
Rookie
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Joined: Jan, 2007
Posts: 689
Posted: #139
it is crazy retarded. I dont understand why the market reacts to any news reguarding the AIG, CITI, BAC and these other companies that blew themselves apart.  We already know this and already know it isnt going to get any better for these companies anytime soon. I just dont get why the market factors this crap in.
 
Prospect
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Joined: Sep, 2008
Posts: 306
Posted: #140
Quote Originally Posted by Sherman79:

it is crazy retarded. I dont understand why the market reacts to any news reguarding the AIG, CITI, BAC and these other companies that blew themselves apart.  We already know this and already know it isnt going to get any better for these companies anytime soon. I just dont get why the market factors this crap in.


100% what i was thinking today. i seen the market down 186 left, i checked on my phone after close its down 300 pts WTF on what AIG's 60 billion dollar lose on credit default swaps. of course the credit default swaps were gonna get killed thats alreasy know. AIG is a zombie insurance company.
   I read a report this morning on cunsumer spending went up in the month of Jan. the previous 6 were negative. it beat estimates of 0.4% actual 0.6%. that gets totally ignored. I think the market is gonna rally tomorrow, today just doesn't seem right to me. oh wait did obama speak today ??? thats negative 100pts on the dow jones by itself lately.


 
Prospect
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Joined: Sep, 2008
Posts: 306
Posted: #141
I bought another 2k shares today 3.13

this is gonna be a great investment at these prices. if we selloff in drys tomorrow sub 3's I'm gonna add again.
 
Prospect
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Joined: Dec, 2007
Posts: 269
Posted: #142
With DRYS at 3.00 the dividend alone is 23%.
 
What are the chances that this dividend will get cut, and if it gets cut would DRYS sink even lower?
 
MVP
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Joined: Oct, 2005
Posts: 16136
Posted: #143
Wow DRYS is showing some signs of life today
 
Legend
Participation Meter
Joined: Dec, 2001
Posts: 85256
Posted: #144
dumped my 3k early friday @ 3.89, took the 2+ dimes and gonna "sit and see" IF it backs off again.
 
in THIS fucking market, I'm just happy to get ANY profit out of a trade.
 
 
Prospect
Participation Meter
Joined: Sep, 2008
Posts: 306
Posted: #145
Drys looking good today $4.40 range.

i picked up 2k more shares yesterday @ $4
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