What I find the most curious about DRYS is that most of the volume is short selling not Kalani. Of course Kalani is part of it, but my guess is 15 million out of 100 million traded so far this week. Even borrowing 100% of the new shares only accounts for less than a third of the total trade. Likely a lot of naked short selling by the MMs in there yesterday and today to get some shares back after the huge run up. The MMs will no doubt want to cover tomorrow along with shorts not wanting to be in over the weekend. Tough to know what GE will announce in the 6K after close tomorrow or what the financials will report. DRYS is definitely on a good track from a business perspective and, as ash reminds us daily, their expected revenue next year will be a catalyst.
BDI is moving up, Kalani is just about done, and GE claims no more dilution. So far everything he has said he would do he has. Getting shares to short is becoming more of a problem and without constant new supply, it also seems that shorting in general will stop simply because there won't be any more shares to borrow. All in, the DRYS story for a long position would seem to have more pros than cons.
