Dry Ships (DRYS)

[Valuist]

Movement in this one has been unreal:

https://finance.yahoo.com/m/03d52544-d197-3200-9ba0-ca063277e2d0/ss_unmoored-from-reality%3A.html

[_______]

They have a million share float and volume is 12-14x that on a daily basis. It's musical chairs and you don't want to be playing when the music stops.

The fundamentals are BAD.

[Valuist]

They have a million share float and volume is 12-14x that on a daily basis. It's musical chairs and you don't want to be playing when the music stops.

The fundamentals are BAD.

I'm not advocating buying it. Due to the parabolic nature of the rise, it looks like a short candidate.

[FakeNameChanged]

Financial death spiral. Funny how Cramer used to tout this company all the time.

[_______]

With the recent run up, it's now lost only 99.97% of it's value from 3 years ago.

The only people who can feel comfortable about buying and selling this stock are those who view it as a blip on their computer screen that moves up and down. If you look at it as a business, it's radioactive.

[Secondbest]

Financial death spiral. Funny how Cramer used to tout this company all the time.
He does that a lot.

[_______]

I can't imagine having owned this stock over the last few years. 3 reverse splits to avoid de-listing that are cumulatively 1 for 1500 and now they are going to massively dilute those remaining shares.

If all the warrants being issued wind up getting exercised in the deal just announced, today's current shares will be just 1.6% of the total float.

[lamboguy]

http://seekingalpha.com/article/4024428-just-happened-dryships-name?ifp=0

[AltonKelsey]

Lots of folks left holding the bag on this. Halted at 115, open two days later at 50, closed 11 and change.

Now thats entertainment,

[FakeNameChanged]

Quote:
Originally Posted by Whosonfirst
Financial death spiral. Funny how Cramer used to tout this company all the time.


He does that a lot.
Or better yet, Jimmie used to have the CEO of Chesapeake Energy on his show multiple times pushing his stock. Then Aubrey McClendon drives his Ferrari headfirst into a bridge abutment during an investigation. They're sitting at five bucks right now.

[_______]

Announced after market today they are issuing additional equity again to pay down debt. $200 million.

It's not going out on much of a limb to suggest another reverse split is in the offing as the new shares come onto the market to keep the price above $1.00.

[_______]

Reverse split 1 for 4 shortly after this post. Just announced a 1 for 7 split today.

I know no one was touting this one but it's an example of how far south you can go trading near penny stocks. You are now at 1 for 42000 shares since they started this circus.

[AltonKelsey]

Yeah but you cant lose more than 99.999999999999999999% this way, since they never delist.

Where's there's life there's hope.

[AltonKelsey]

Shame ya'll didn't load up on Bitcoin. See the insanity in the crypto markets?

Logic defies.

[lamboguy]

the markets have a june rate hike priced in at over 90% now. for whatever reason bitcoin has gone to the moon while gold has taken it on the chin. at very worst the metals sector should have a decent bounce in them for now. i play junior miners, my 2 favorite right now are MUX and KLDX. they should both have at least a 20% bounce in them from right here.

[AltonKelsey]

When SFOR goes back under 1 cent , will you be buying more?

[lamboguy]

When SFOR goes back under 1 cent , will you be buying more?
i am focusing more into the 2 gold mining stocks i have mentioned now. i am probably going to wait it out on SFOR as still have some shares. those other things look like they are getting ready to move. the miners probably need the S+P to blow up to get the big move though.

[_______]

Great list of rules with detailed explanations for anyone wanting to spend the time and effort that investing requires.

I think many who post here are speculators and I have no argument with anyone who likes to gamble a little.

But this is what I strive for:

http://doc.xueqiu.com/144f411d2a6183fee68c4a0e.pdf

[reckless]

Thanks for the link, Don. Good stuff.

[_______]

Reverse split 1 for 4 shortly after this post. Just announced a 1 for 7 split today.

I know no one was touting this one but it's an example of how far south you can go trading near penny stocks. You are now at 1 for 42000 shares since they started this circus.

This stock has been doing GREAT! They made it over 2 months without reverse splitting.

Until today.

One more 1 for 7 reverse split. So one share afterwards represents 294,000 pre-circus shares.

I don't usually make short recommendations but the Kalani deal means more post split dilution and, inevitably, a sinking price until they reverse split again to avoid being relegated to the pinks.

Wheee!

[Parkview_Pirate]

Great list of rules with detailed explanations for anyone wanting to spend the time and effort that investing requires.

I think many who post here are speculators and I have no argument with anyone who likes to gamble a little.

But this is what I strive for:

http://doc.xueqiu.com/144f411d2a6183fee68c4a0e.pdf

I would agree that "value" investing is hard work, and goes against the grain of many players in the markets who are looking to make a quick buck.

I would argue that "value" investing is difficult in an era when mark-to-market rules have been suspended, and 10Ks are often works of fiction with more in common with Gone With The Wind then a financial statement for a corporation. It ain't the same game any longer.

And shipping is an interesting sector - could be the canary in the coal mine, since when a rising tide lifts all boats, a falling tide must....

[_______]

I would agree that "value" investing is hard work, and goes against the grain of many players in the markets who are looking to make a quick buck.

I would argue that "value" investing is difficult in an era when mark-to-market rules have been suspended, and 10Ks are often works of fiction with more in common with Gone With The Wind then a financial statement for a corporation. It ain't the same game any longer.

And shipping is an interesting sector - could be the canary in the coal mine, since when a rising tide lifts all boats, a falling tide must....

I'd argue that timeline is the only metric where a retail investor can possibly have any advantage over the pros. No one is checking my quarterly returns and comparing it against others. I don't have a bonus riding on the next 3 months. I can have the patience to hold an undervalued company (that pays a dividend) until the inevitable long term weighing mechanism of the market overcomes the short term voting mechanism.

I've held BA since early 2014 when I bought it because the way they were doing the accounting on the 787 guaranteed that FCF would accelerate once costs were paid off. It was essentially flat for 2 years until suddenly the weighing mechanism kicked in. Looking back, I love all those rebuy's the dividend gave me at a much lower basis. And I hope the stock pulls back now. That's the perspective a pro can't afford.

I wouldn't analogize DRYS to shipping in general. It's bordering on criminal what is happening to anyone who jumped into this stock. They are an actual company with a business but the shenanigans regarding the stock is just ridiculous.

[Camkid77]

the markets have a june rate hike priced in at over 90% now. for whatever reason bitcoin has gone to the moon while gold has taken it on the chin. at very worst the metals sector should have a decent bounce in them for now. i play junior miners, my 2 favorite right now are MUX and KLDX. they should both have at least a 20% bounce in them from right here.




FANG is the best stocks now..:eek::ThmbUp:

[n.c]

you might get 1 or 2 big moves, in a few days, when the market is in a uuuuuuuuuuuuuup trend,but majority of the time, you will get burned.
then you will be stuck, and try to avg out, buying more and more, at a lower price,,, then eventually you will sell and take a write off for the next few years, $3000 a year:D

[BaffertsWig]

DRYS announcing earnings AH today I believe...

[BaffertsWig]

opened at 3.47 today, closed at 3.04, and is currently 2.28 in AH. SEC subpoena for documents related to offerings between June 2016-July 2017 :headbanger:

[_______]

opened at 3.47 today, closed at 3.04, and is currently 2.28 in AH. SEC subpoena for documents related to offerings between June 2016-July 2017 :headbanger:

https://seekingalpha.com/news/3292773-dryships-reports-q2-results

The SEC probe might not be the entire issue. Mind you, I'm all for investigating the shareholder dilution that occurred so the company could buy ships from the CEO.

But the $37/share loss reported in the after hours earnings probably contributed. How a $3.04 stock only declined 20% on such a horrific report is the puzzler. I assume all the reverse splits they've done has f'd up the reported numbers. It just doesn't make sense that a $3 stock can have a $37/share loss but there it is.