@s4ny said:
I don't deserve much credit. LINEQ was already in bankruptcy and there was
not much chance of recovery by the unit holders.
If I designed the contest, I would not allow options (long or short)
and shorting shares priced under $5.
Be a lot easier on the score keeper if it was limited to stocks, metals and ETFs; limit of three, longs only. In addition contestant should be responsible for notifying score keeper of splits and reverse splits.
questions are starting to arise over drys stock offerings.
there is always the obvious:
what moron would pay for stock from a company that dilutes regularly and to stay active as a listing has to reverse split to stay above $1?
I think this is the hidden crux of the questions.
DRYS, -19.7%; Q2 net loss widens from year earlier; gets SEC subpoena;
=-=-
The Securities and Exchange Commission has issued a subpoena to DryShips Inc. , a once obscure Greek shipping company, for information tied to the company's huge sale of stock over the past nine months.
The subpoena, which was disclosed by DryShips in the last paragraph of its earnings release Wednesday, asked for " certain documents and information" connected to stock offerings made between June 2016 and July 2017 .
That coincides with the period that saw $700 million in new shares issued, which wiped out the value of stock held by thousands of small investors. DryShips , which transports commodities, has been one of the most volatile companies listed on a U.S. stock exchange over the past nine months and has attracted numerous private lawsuits.
Shareholders experienced wild gains and drops in its share price as the new stock was issued in a way that appears to have been highly profitable for the company's chairman George Economou . The shares were issued to Kalani Investments Limited , a mysterious firm domiciled in the British Virgin Islands . A Wall Street Journal investigation linked that firm to Toronto financier Marc Bistricer , who also appears to have gained from the sales.
DryShips used the proceeds of the offerings to acquire 17 vessels, including five controlled by companies associated with Mr. Economou, who earns management fees on the company's fleet.
DryShips's most recent maneuver, announced on Aug. 11 , involved prematurely ending the purchase agreement with Kalani and instead offering a large block of common shares to Mr. Economou in exchange for shipping assets and debt instruments that he owned -- a deal that has since been completed. The stock initially rose sharply on that news as it was seen spelling an end to a series of stock offerings and reverse stock splits. The stock fell 11.6% on Wednesday prior to the announcement of results and by a further 27% in after-hours trading following the disclosure of the subpoena.
The company, Mr. Bistricer and the SEC didn't immediately respond to questions about the subpoena.
(END) Dow Jones Newswires
08-30-17 1728ET
Copyright (c) 2017 Dow Jones & Company, Inc.
My position in DRYS was completely obliterated as of the last split.
I knew this stock would be the ultimate loser, I just thought it was going to happen last year in '16
To make I easier, I'd make it straight shares, no shorts or anything. You pick a stock, you go with it through thick or thin. No stocks under $2, no stocks ending in Q (undergoing bankruptcy). Just a pick a stock and go.
This has been a fun contest for years that seems to get a bit out of hand on all of fancy trades.
Just so we're clear, the goal of this contest is to lose because you get a free oz of silver for it, am I wrong? That's the way I played it and that's my story and I'm sticking to it.
To forgive is to free a prisoner, and to discover that prisoner was you.
There are now a number of prizes, i think for finishing in first place, right in the middle, and dead last place, and now for handicapping the top 5 with 3 months left. There may be more..
My stock (PLUG) was a complete dog last year. At one point this January, I was down almost 33%. Now with Amazon and a renewed Wal-Mart deal (each worth $600M) PLUG should hopefully hit $4 by year end.
OK, here are the updates as of October 20. Quite a few nice moves this time around.
On a related note, this will be the last year I will be running this. Time for another to take over the reins. As much fun as I have had doing this over the last few years, I am just running out of free time. My apologies to everyone who has participated in the past.
Wings...thanks for you work on this over the years. Always fun and there have been some really nice investment scores around with picks folks have chosen.
If anyone were to take this over I would suggest $10k in only one pick limited to only US assets, no dervatives. IE, no foreign currency, options, futures, swaps, ect. Would Make THE Task 90% Easier.
@cohodk said:
If anyone were to take this over I would suggest $10k in only one pick limited to only US assets, no dervatives. IE, no foreign currency, options, futures, swaps, ect. Would Make THE Task 90% Easier.
agree except: limited to only US listed stock symbols (this includes ETFs and ETF based derivatives). Manager of the thread could simply list all of the thread entries into a saved, marketwatch.com online watchlist (or any other on-line live portfolio site) and have all the current prices on one screen.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Comments
It should be 1 pick of $10,000.
Knowledge is the enemy of fear
Charles III Album
Charles III Portrait Set
Charles IV Album
Charles IV Portrait Set
Spanish Colonial Pillar Set
Here we go!
Number 6! Highest ever for me in this contest. Cool. And with straight boring picks too!
so far, trend of odd years good for me holds. Still fairly early, have high hopes for update near end of June....
Liberty: Parent of Science & Industry
Once again I'm surprise at the stats.
Holy crap! Looks like I need to update this!
While the midyearish update will be nice, the end of year tally might be awesome. Hope all is well, keep on keepin on...
Liberty: Parent of Science & Industry
I bet every thing on RED and I won! LOL
WELCOME BACK!!!!!!
so far, DRYS has had a 1:8 reverse, a 1:4 reverse, a 1:7 reverse, and a 1:5 reverse. it is now floating above the $1 mark, but for how long?
that percentage is 0.089 & 2/7,000th%
However, they sold more shares.
It's about time!!!
First half results are in.
I would not want JohnnyCache for my investment advisor.
Don't know about that. He's a "shoe in" for winning the ASE.
Woot! Top 5 right now! Amazing! Especially as they aren't crazy pics....
Spot 19 is the middle of the pack half oz booby prize too again this year...I'm chasing Bochi to keep from having to mail it out though, ha!
Thank you for the update.
funny. DRYS needs some real news.
non-fake news for DRYS
1-for-7 on the 21st
and about six lawsuits
Charles III Album
Charles III Portrait Set
Charles IV Album
Charles IV Portrait Set
Spanish Colonial Pillar Set
With all of the reverse splits, there's probably like 1000 shares of DRYS outstanding (or at least seems like it...)
I'm waiting till Thanksgiving.....or Christmas......
or never.
bob
questions are starting to arise over drys stock offerings.
there is always the obvious:
what moron would pay for stock from a company that dilutes regularly and to stay active as a listing has to reverse split to stay above $1?
I think this is the hidden crux of the questions.
DRYS, -19.7%; Q2 net loss widens from year earlier; gets SEC subpoena;
=-=-
The Securities and Exchange Commission has issued a subpoena to DryShips Inc. , a once obscure Greek shipping company, for information tied to the company's huge sale of stock over the past nine months.
The subpoena, which was disclosed by DryShips in the last paragraph of its earnings release Wednesday, asked for " certain documents and information" connected to stock offerings made between June 2016 and July 2017 .
That coincides with the period that saw $700 million in new shares issued, which wiped out the value of stock held by thousands of small investors. DryShips , which transports commodities, has been one of the most volatile companies listed on a U.S. stock exchange over the past nine months and has attracted numerous private lawsuits.
Shareholders experienced wild gains and drops in its share price as the new stock was issued in a way that appears to have been highly profitable for the company's chairman George Economou . The shares were issued to Kalani Investments Limited , a mysterious firm domiciled in the British Virgin Islands . A Wall Street Journal investigation linked that firm to Toronto financier Marc Bistricer , who also appears to have gained from the sales.
DryShips used the proceeds of the offerings to acquire 17 vessels, including five controlled by companies associated with Mr. Economou, who earns management fees on the company's fleet.
DryShips's most recent maneuver, announced on Aug. 11 , involved prematurely ending the purchase agreement with Kalani and instead offering a large block of common shares to Mr. Economou in exchange for shipping assets and debt instruments that he owned -- a deal that has since been completed. The stock initially rose sharply on that news as it was seen spelling an end to a series of stock offerings and reverse stock splits. The stock fell 11.6% on Wednesday prior to the announcement of results and by a further 27% in after-hours trading following the disclosure of the subpoena.
The company, Mr. Bistricer and the SEC didn't immediately respond to questions about the subpoena.
(END) Dow Jones Newswires
08-30-17 1728ET
Copyright (c) 2017 Dow Jones & Company, Inc.
=-=-=-
04:38 PM EDT, 08/30/2017 (MT Newswires) -- DryShips (DRYS) on Wednesday posted a Q2 net loss of $15.6 million, widening from net loss of $9.1 million a year earlier as revenues edged up to $16.38 million from $15.75 million over the same period. Its shares slumped 24% in after-hours trading.
Its cash and cash equivalents stood at $77.2 million (or $1.14 per share) at the end of Q2, and book value of vessels, including advances, was $668.0 million (or $9.84 per share).
The cargo vessels operator said various complaints have been filed in the Marshall Islands and the United States alleging various violations by the company and/or two of its officers in connection with the securities laws of both countries, requesting differing amounts of damages.
"DryShips and its management believe these complaints are without merit and intend to vigorously defend themselves against these allegations," the company said.
Dryships also said it has received a subpoena from the Securities and Exchange Commission seeking information on offerings made by the company between June 2016 and July 2017, and it is providing the requested information to the SEC.
Price: 2.30, Change: -0.74, Percent Change: -24.3
http://www.mtnewswires.com Copyright © 2017 MT Newswires. All rights reserved. MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.
My pick been porpoising around all year, currently +29%
Liberty: Parent of Science & Industry
My position in DRYS was completely obliterated as of the last split.
I knew this stock would be the ultimate loser, I just thought it was going to happen last year in '16
Charles III Album
Charles III Portrait Set
Charles IV Album
Charles IV Portrait Set
Spanish Colonial Pillar Set
Labor Day update: more than half of us are losing money.
4 nice moves this update, congratulations derryb, Zubie, DrBuster, and pragmaticgoat
Liberty: Parent of Science & Industry
ending at zero or 1 cent for JohnnyCache?
Another good week, and hey, it's almost 4th quarter already. Fugio!
Liberty: Parent of Science & Industry
New side-contest for anyone reading this: Pick the Top Five!
With one quarter to go, predict the top 5 finishers in this contest, in order, as listed by Wingsrule sometime after new year's eve.
One guess per person, no edited posts, entries close 11:59pm Pacific Sept 30, 2017. Must get all five right to win. Tie goes to first entry posted,
Winner receives $1 face US 90% silver and an ancient Roman bronze coin. Good luck!
Liberty: Parent of Science & Industry
ok,,I'll take a shot at it.
1..s4ny
2. hopsin
3. 3stars
4. surfinxHI
5. Baley
I'll take a shot at it too
1..s4ny
2. 3stars
3. hopsin
4. surfinxHI
5. Baley
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
To make I easier, I'd make it straight shares, no shorts or anything. You pick a stock, you go with it through thick or thin. No stocks under $2, no stocks ending in Q (undergoing bankruptcy). Just a pick a stock and go.
This has been a fun contest for years that seems to get a bit out of hand on all of fancy trades.
I gotta upvote myself, yes?
Just so we're clear, the goal of this contest is to lose because you get a free oz of silver for it, am I wrong? That's the way I played it and that's my story and I'm sticking to it.
There are now a number of prizes, i think for finishing in first place, right in the middle, and dead last place, and now for handicapping the top 5 with 3 months left. There may be more..
Liberty: Parent of Science & Industry
3 stars wins.
Knowledge is the enemy of fear
unless it takes picking baley as #1 to receive the prize
My stock (PLUG) was a complete dog last year. At one point this January, I was down almost 33%. Now with Amazon and a renewed Wal-Mart deal (each worth $600M) PLUG should hopefully hit $4 by year end.
This is as fun as coins.
OK, here are the updates as of October 20. Quite a few nice moves this time around.
On a related note, this will be the last year I will be running this. Time for another to take over the reins. As much fun as I have had doing this over the last few years, I am just running out of free time. My apologies to everyone who has participated in the past.
Wings....it's been cool of you to do it.
Totally understand about real life time commitment.
Rock on, buddy, rock on!
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
Hey Wings, it's been great of you to take the time! Thank-you!
I knew it would happen.
I have to admit, although my picks usually su--, I've enjoyed being a part of it over the years.
Thanks again.
Wingsrule really stepped up years ago and made what started as a lark of an idea into this series of fun threads, we all appreciate the effort!
Liberty: Parent of Science & Industry
Wings...thanks for you work on this over the years. Always fun and there have been some really nice investment scores around with picks folks have chosen.
If anyone were to take this over I would suggest $10k in only one pick limited to only US assets, no dervatives. IE, no foreign currency, options, futures, swaps, ect. Would Make THE Task 90% Easier.
Knowledge is the enemy of fear
agree except: limited to only US listed stock symbols (this includes ETFs and ETF based derivatives). Manager of the thread could simply list all of the thread entries into a saved, marketwatch.com online watchlist (or any other on-line live portfolio site) and have all the current prices on one screen.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
derryb....why don't you do us the honor