RE: RE: RE: RE: Can only go up from here...I wouldn't doubt George Economou's business practices. He and his relatives have their hands in everything to do with shipping. Doesn't Anthony Kandylidis, his son in-law or whoever own Oceanfreight Inc.
Between the 2 companies, they've been doing a lot of spending. (newbuilds for 2012 and 2013)
What's next....He will put an outrageous takeover on it and personally benefit again?
I've been watching the industry for a long time and it's a sector I find most interesting. it's kinda becoming me.
I wouldn't doubt DryShips will become or is a great company, and the stock price will be at attractive prices again, but this guy is a shark.
Maybe were are all looking at this the wrong way!
IMO
One thing I have noticed is DryShips new tanker division would be similar to another stock I own: Teekay Corp's, Teekay Tankers division. But they have a fleet of 16 (6 Suezmax, 9 Aframax and 1 newbuild) Tanker market rates haven't hurt them too much. They are still paying a good a dividend and been upgraded recently to neutral rating. Avg. stock price is $12. A solid track record.
So I don't know what to expect from this Dryships IPO/Spin off!
It could be a good thing.
The next few months of this chess game will be interesting. But George is running out of pawns!
I'm going to hold tight and not sell yet.