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Old 05-11-2009, 10:37 PM   Nav to Top  #1
Cards929
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I thought DRYS was going to take off but rating came out and changed it all. Anybody have any good info?
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Old 05-11-2009, 11:15 PM   Nav to Top  #2
GreG
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Im in OCNF right know, (ran by the same management as DRYS). Dont really know why the down grade was given, as I have not been in DRYS for a while, but this down grade probably just gives you another chance to buy low befor the economy completely recovers and this service is needed and becomes very profitable again. Buy low sell High! You should also check into OCNF. Hope I helped?, if not I tryed!
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Old 05-11-2009, 11:24 PM   Nav to Top  #3
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Dryships has a HUGE share offering hanging out there right now.

DryShips (DRYS) Joins the Dilution Parade
Mark , TraderMark
Published 05/11/2009 - 6:42 a.m. EST Rate This Article:
0


ABOUT THE AUTHOR

Mark

Website:
http://www.fundmymutual...

Email:
markox5@yahoo.com


It is not just REITs and banks diluting shareholders hand over fist; we've seen companies in the industrials (Dow Chemical), metals (Alcoa, US Steel), among many other industries. Even our lowly Smith & Wesson (SWHC) did a dilutive offering yesterday! What is amusing is there seems to be no amount of reticence to buy and be diluted - it is seen as "good"! Some companies have done two offerings just in 2009 alone! So different than the era I grew up in, but we live with a new set of rules. Dilution means breathing room...

... while the long term means nothing to a market who concentrates 2 feet ahead of it, all these dilutive steps mean earnings PER share will be much harder to grow in the future.... suppressing valuations. But that's an argument for another day... it's ALL good now.

DryShips (DRYS) just announced a dilutive offering of quite magnificent size, about 40% dilution - with the company only down 15% that is a sign of approval. Again it makes the CEO's commentary A WEEK AGO [May 1, 2009: DryShips CEO: Dry Bulk Sector Oversold] about being ready to pounce on acquisitions (with the money they didn't have) even more bemusing but this market will lap up anything as "half full". Oh George, he is quite the character....

Greek dry bulk carrier DryShips Inc (DRYS) said it would offer common stock, its third such offering since November, and hopes to raise up to $475 million in an at-the-market offering.
DryShips, which had earlier raised $500 million in a similar offering announced in January, disclosed its latest offering in a filing with U.S. Securities and Exchange Commission.

Oppenheimer analyst Scott Burk downgraded the stock to "perform" from "outperform" and suspended the company's price target citing near-term weakness on this offering. "This is the company's third ATM offering since November, which has increased the share count from 43 million to 185 million currently," Burk said.

That last point is the same I made above... $XX income spread over 43 million shares is very different than $XX spread over 185 million. But that won't matter until it matters.... someday.

Personally, I don't like DRYS, they have crazy, unpredictable volitility. Shady management that is NOT forthcoming with information.

Heck, this quote alone should have you running away screaming with fear:

"This is the company's third ATM offering since November, which has increased the share count from 43 million to 185 million currently," Burk said.


Better plays out there IMO.

Last edited by Stealpulse; 05-11-2009 at 11:27 PM..
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Old 05-11-2009, 11:36 PM   Nav to Top  #4
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Stealpulse,
Since you are here what do you thik about OCNF
You seem to know you sh#t![

Are anyone!!!

Last edited by GreG; 05-11-2009 at 11:50 PM..
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