Busy week: dividend, buy back, spinoff. No ER date yet, but looking to also see if there is anything new on Heidmar. If there are any dividends due to DRYS from that unit, I would expect they would be paid out in January? Maybe some news on that front.
Chinese New Year set to begins next Frdiay and the ports will come to a crawl for 2 weeks. So no help for spot rates or BDI. However, things will begin picking up again in March.
For now, clearly the shorts are trying to move DRYS down regardless of any news. I wonder what happens when the float gets bought down to 15-20 million shares via the buy back. I doubt GE plans to sell any shares next month when he becomes free to trade his shares again. So basically by next month there could conceivably be less than 20 million shares to trade. With an improving worldwide economy, increasing spot rates, spinoff, and dividend payment, I wonder what will happen to the pps?
