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The Company owns and operates fleets. The company's fleet carries various drybulk commodities, including coal, iron ore, and grains, bauxite, phosphate, fertilizers and steel products.
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Steve819 (97.32) Submitted: 8/28/06 9:46 PM : Start Price: $11.90 DRYS Score: -81.91
-Bankrupted identical business 6 years ago (Alpha Shipping). -Buying ships off sister with IPO money.-Paid out 60M In divvys prior to IPOing to himself and his family leaving company with 7M. -Explicitly states in S1 that shareholders will be last in line in any spot of difficulty due to CEO "having greater economic interest" in company. -Stated reason for going public was because "there was a lot of liquidity in the market, and Americans are the world's dumbest investors".Do I really need to go on?
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Steve819 (97.32) Submitted: 9/01/06 8:25 PM
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Here's the link to my article:http://www.fool.com/News/mft/2006/mft06090111.htm
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Steve819 (97.32) Submitted: 10/26/06 3:15 PM
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More news out of this one:Mr. Economou's response to my first article:http://www.marketwire.com/mw/release_html_b1?release_id=160105Mr. Economou's response to my second article:http://www.marketwire.com/mw/release_html_b1?release_id=173653
Steve819 (97.32) Submitted: 10/26/06 3:16 PM
CAPS messed up and wouldn't let me add my link to my second article, so here it is:http://www.fool.com/news/mft/2006/mft06101226.htm
tinmanmf (59.11) Submitted: 1/22/07 6:20 PM
I think shipping is still a very predictably cyclical industry with tremendous potential profits to investors, but I'll take my 25% profit on DRYS. The smoke signals are sufficiently ominous.
HellenicMaritime (< 20) Submitted: 8/19/07 3:01 PM
Check out our blog posting " Are Dry Bulk stocks a marvelous short ??? " regards AngeloGrigoropoulos.ComKerdos.Com
jester112358 (< 20) Submitted: 9/17/07 4:08 PM
This is the wrong sector to short. There is a truly amazing shortage of dryships and China will pay whatever the market asks and there is a world wide commodity boom driven by China and India. At least he's buying ships (not something else) with the IPO money. Isn't that the purpose of capital?Also, note a huge amount of this stock is held by insiders and they aren't selling it. Its like Terra Nitrogen in that fact and we know how well both companies have performed in the last year. They're really in it for the high upcoming dayrates and huge profits.
lquadland10 (< 20) Submitted: 9/28/07 10:01 AM
Just look at your score thanks for the tip but for some reason they are making money so I did the opposite of you on this one and am doing great for now. Because of your pitch I give it my eagle eye for now as it goes up. Thank you for the great tip in a round about way. Lynda
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