What’s the bottom line?
Despite trading at $4 this stock is not cheap, counsels Karen Finerman. Stay away.
And according to Forbe’s there are other bad signs for investors. “Last month, DryShips said in a filing with the U.S. Securities and Exchange Commission that it planned to sell as many as 25.0 million new shares, a move that could significantly dilute existing shareholders. It also warned it may breach its loan covenants if the current low charter rates in the dry bulk market continue.”
If you’re looking for a trade in the sector check out Diana Shipping . Finerman is long because she thinks it has a solid balance sheet.
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Trader disclosure: On Dec. 2nd, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (MSFT), (WMT), (SDS); Macke Is Short (YHOO); Adami Owns (AGU), (BTU), (C), (GS), (MSFT), (INTC), (NUE); Finerman's Firm Owns (DSX),(MSFT); Finerman's Firm Is Short (IYR), (IJR), (IWM), (SPY), (MDY), (GNK), (USO), (BBT). (COF), (EXM); Pete Najarian Owns (UYG) Calls, (TLM) Calls
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