DRYS is likely to report continuing losses tomorrow. No doubt narrowing the gap, but losses just the same. Management's discussion might prove more valuable. Depending on the messaging, there may be a short term pop in the pps, but that will quickly be followed up with the Kalani dilution machine.
Assuming the pps continues sliding down, the RS price might end up around $5. With $150 million to go, GE will no doubt try to push that to completion over the next 2-3 weeks. So the pps will still be under pressure for a while to come. Once that clears and there isn't any sign of GE conducting another Kalini dump, the pps will no doubt start climbing. Rapidly. Until then, this still isn't a good place to enter.
