anyone see value in

Their CEO totally blew it..he had money from the ORIG sale and plenty of cash flow and he decided to keep expanding and even go into oil tankers, what a big mistake.

Dont look at the market cap of DRYS because the real issue is the debt load and how poorly the cape bulkers are paying now. If George were not running this company I would for sure take a gamble on it..because they have plenty of assets and if George werent such a gambler the potential for a BIG return is out there.

Instead of DRYS, look at some other bulkers with less risky ownership and see if some company has enough cash to handle their debt load and survive for a few years...someone like Diana or GNK etc etc..

Two reverse splits I think since this original post...check the 6 month chart.

But yeah the stock got a relief rally because they are in a better position with their debt holders and I think the banks are trying to work with them rather than force them into BK..

It also helps that copper has bounced really hard, but even still there is so much overcapacity it will take some serious drops in global fleets before the industry can improve.

I also worry about China devaluing like they have been the last few weeks...it isnt good for imports, it makes the cost of raw goods (iron, copper etc) MUCH more expensive when they are cheapening the Yuan...

One negative that is kind of a positive on DRYS is right at the ramp up Georgie rounded up some needed cash which was good for survival but very dilutive. The share count is now back to over 30 M, not the 1M that you can imply from viewing the price and market cap..but I dont think those 30M are float shares rather are set aside for conversion if any of the new series E holders wish to convert to common shares (which I have to think happened to some degree on the ramp and drop).