advice guys DRYS

[HuskerFan1]

so ive owned this stock for maybe 6months...they are going to spin off ocean rig (they just signed a 1.1billion deal with PBR)

the stock is $4.40 any reason why i shouldnt buy more? i just dont see much downside here?


anyone else own this or looking at it?

 

[tanner12oz]

looked at this years ago when they were on the verge of collapse and honestly they havent moved much higher since....i dont have a strong opinion on it...personally i wouldnt touch it BUT if you did want to reload i could see it getting closer to 4.00-4.15...the thing that kills it for me is....

Total Cash (mrq):391.53MTotal Cash Per Share (mrq):0.98Total Debt (mrq):2.95B

 

[SmallDaddy]

I have a few shippers (that pay dividends) . I figure eventually things will pick back up. WHenever that might be, who knows. I saw for DRYS their average price was in the high mid to high teens. Even if it takes 10 years to get back to that. That is still a nice yearly return

IMO its an oversaturated industry but not a dying one. Goods need to be moved, so you always gonna need shippers

Pick the 5 best ones. Even if one or two goes down, that just means more business for the rest

 

[DeathEatsaCracker]

Be careful. DRYS CEO will bilk shareholders at every opportunity.

 

[tanner12oz]

theres your $4 entry if you are still tempted....i still suggest treading lightly here...debt load to high

 

[HuskerFan1]

yes but they are still going to spin off the other company...so your going to own 2 companies and the ocean rig company has 2 billion in backlogged revenues....

i havent added yet but i did sell my chk today and did buy GPL around $2.94 lol it closed at $2.80 but im glad i got it under $3

 

[gonaturalgas]

I like that company. My group took ESEA public. Roth Capital out of Newport Beach did their raise when they went public. It was about 40M at 3 bucks per share. I started following the industry a bit because I owned ESEA. I swear, I earned 35K shares for my work and I sold on the way up from 3 bucks to 8 bucks. WHen I sold my last share the stock shoot up to 35 bucks. I wanted to shoot myself. hahaha. damnit. It's back down to where I sold.

I like DRYS but if the economy or dollar collapses I imagine the stock will go lower. Buy in but have cash on sidelines in case it falls more and average in. good luck

 

[tiznow]

Overcapacity of global ships is utterly insane....shippers loaded up on debt building fleets thinking the party would continue forever.......no clue about this particular company.....but the industry much like housing is a dead market long term and will take a long time to work through the huge backlogs of supply