DOES ANYONE READ MY POSTS? WHY WOULD ANYONE THINK THEIR IS OPPORTUNITY IN THIS STOCK..READ MORE
WHO WOULD BUY THIS POS? PONZI SCHEME REVEALED
CEO George Economou from Dryships Inc (DRYS: Nasdaq) took the “ death spiral ” and added a unique spin to it. In the Economou version, he “death spirals” his own stock through an independent party named Kalani.
DRYS has now undertaken a few variations of this theme, but the basic underlying trend is that DRYS sells shares to Kalani at a discount to market and Kalani then sells them into the market as rapidly as possible so that Kalani can reload and earn the spread between the price they buy them from DRYS at and what they can sell them for. In the process, the share price of DRYS has been in freefall.
Now, you have to be asking the question; why would Economou want to purposefully crash his share price? I don’t think he cares what happens to the share price, beyond propping it up sufficiently to sell more shares. His goal is to load DRYS up with cash from the share sales so that his private entities can extract value through fees and asset sales to DRYS at inflated values. It’s a unique spin on the host-parasite relationship.
