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XMFSinchiruna (26.57)

DryShips Fires Another Salvo at Shareholders



July 10, 2009 – Comments (3)

Since the links aren't working (or maybe they are now?), I'll just offer the url for your viewing pleasure. :)

Only DryShips can make such amazing assets as those semi-submersible drillships look so very bad.

I added DRYS to my CAPS portfolio today just for fun, because invariably every big move this guy makes creates a rash of speculative fervor ... but this is solely a trade for fun, and is not intended as a nod by me towards DRYS as an investment. To the contrary, I think it's one of the scariest equities out there!

Have a great weekend, Fools!

3 Comments – Post Your Own

#1) On July 10, 2009 at 4:31 PM, chk999 (99.96) wrote:

I'm very tempted to wait a few days and then open this as an underperform.

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#2) On July 10, 2009 at 4:53 PM, XMFSinchiruna (26.57) wrote:


Careful ... shares are really downtrodden near $5, and nearly a 1/4 of the market cap is cash ... so downside is fairly limited. Meaningful downside would come only when the creditors come knocking again .. I'll have to look and see when that time comes next.

I opened an outperform pick in my CAPS for fun because I think there's a real chance the shares see some interest from this move. I could envision some substantial upside, though I certainly wouldn't be risking any real money in a company like this. :)

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#3) On July 10, 2009 at 5:43 PM, chk999 (99.96) wrote:

I know about the danger of red-thumbing DRYS. I coattailed Otter into that and ended up 1000 points negative on it. But I waited and finally closed it at plus 13 and change.

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