Quick Win by the Algorithm

Dryships Inc. (DRYS)

On November 9, 2016, the I Know First algorithm gave a bullish signal of 125.42 for the ticker DRYS with a predictability indicator of 0.34. In accordance with the I Know First algorithm, DRYS resulted in a quick win with a 198.25% return in 3 days.

Dryships Inc. (NASDAQ: DRYS) is a global shipping transportation company. Founded in 2004 and headquartered in Athens, Greece, the company owns approximately 15 Panamax drybulk carriers and 6 offshore supply vessels. The company operates in two divisions: drybulk carrier and offshore support. Under the drybulk carrier division, the Company transports commodities including iron ore, coal, and grain, and minor bulks such as bauxite, phosphate and steel products. The offshore support division focuses on providing offshore support for offshore energy firms.

The stock rose impressively due to the company releasing an unaduited third quarter result on Wednesday, November 9, 2016. The stock has decreased significantly since 2014. In the year 2016, the stock decreased by over 90%. However, in the past 3 days, the stock had a phenominal return of 195.65% in 3 days. This could be attributed to an improvement in the company’s financial. Although revenue has decreased compared to last year’s 3 months and 9 months results, the company net loss has shown improvement. The net loss for this quarter compared to last year’s decreased by nearly 99%. The net loss decreased from approx. $848,520 million to approx. $5,247 million. This decrease is restoring investors faith in the company’s ability to continue business in the face of its high debt to equity. Perhaps another reason for the stock’s increase is the rise in the cost for coal, which we have seen increase significantly throughout the year. The increase in coal’s cost, not only increases demand for the commodity, but also increase revenue for the company shipping the commodity. Investors are anxious to see how the unaudited quarter result will compare with the results set to be released in the week of December 5, 2016.

This bullish forecast on DRYS was sent to current I Know First subscribers on November 9, 2016.

Before making any trading decisions, consult the latest forecast as the algorithm constantly updates predictions daily. While the algorithm can be used for intra-day trading the predictability tends to become stronger with forecasts over longer time-horizons such as the 1-month, 3-month and 1-year forecasts.

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