Okay folks so I couldn't resist posting any longer. For the life of me I can't understand these folks, who call themselves "bulls", who are basically buying high and selling low. That just makes no sense! And it certainly is not the way to make money. I'm down quite a bit on this stock myself, but there is simply no way no how that I'm going to sell for a loss.
I figure it this way... I'm in for $12,000 at an average of $3.33 @ share. One year ago DRYS it had a value of 2,000 @ share (albeit at reverse split valuation). But who cares!!! Worst that can happen is I lose 12,000. Sure, it will hurt, but hey I've blown more than $12,000 on a silly vacation that lasted only 2 weeks. Great memories. But worth $12,000??? Hardly! I just made some hotel owner stinking rich, that's about it.
If DRYS returns just 1/2 of the losses it suffered over the last year, making it worth $1,000 @ share, that would still be about 300 times my current investment. Here's the math... $12,000 x 300 = $3,600,000! Yes 3.6 MILLION dollars. So as far as I'm concerned I'll hold this doggone stock 10 years if I have to for a chance at 3.6 million.
I'm in no hurry.
And neither should you be.
Any real "bull" should simply dig in his heels and REFUSE TO SELL FOR A LOSS.
The "shorts" or the "bears" or whatever they call them these days can only benefit when people panic and sell their stocks for a fraction of the price they paid.
My answer. Refuse to panic. If you're in, then be a man, and go ALL IN! What's the worst that can happen? Really? So you lose a few grand. Well what else are you just going to blow it on anyway?
But if you win, even if it takes 5 or 10 years from now, you win potentially VERY big. Now think about this. What if it returns to 5 year highs? In 2014 DRYS hit a high of $56,000 (at reverse split valuation). That's a long way to fall in just a few years. But what goes down fast, can also go up just as fast.
Let's say you invested 1,000 at today's price of 1.37. If it shot back up to 56,000 in 5 years that's approximately 33,000 times your initial investment. That's 33 million dollars!!!
Right now, I say any fool with $1,000 extra bucks sitting around would be an absolute idiot to NOT invest in DRYS at this ridiculously low entry point. You're going to blow it on something. You'd be better off investing it in a company that has real chance to return to profitability.
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