Stock Prediction Quick Win by the Algorithm: Bearish Trend Continues for DRYS

Stock Prediction Quick Win:

On April 4th, 2017, the I Know First algorithm issued a very bearish 3-month forecast for DryShips Inc. (NASDAQ: DRYS), with a signal of -1627.38 and a predictability of 0.57. As a result, in accordance with the forecast, the company’s stock produced a return of -99.43% over this period, solidifying another quick win by the I Know First algorithm.

DryShips is a dry bulk shipping company based in Athens, Greece. The company owns and operates marine cargo vessels worldwide through its two divisions: Drybulk and Offshore Support. The Drybulk segment offers drybulk commodities transportation services, while the Offshore Support segment provides its services to the global offshore energy industry. As of July 6, 2017, the company owned a fleet of 13 Panamax drybulk vessels; 3 Newcastlemax drybulk vessels; 5 Kamsarmax drybulk vessels; 1 very large crude carrier; 2 Aframax tankers; 1 Suezmax tanker; 1 very large gas carrier; and 6 offshore support vessels, comprising 2 platform supply and 4 oil spill recovery vessels. Suffice it to say that DRYS is well-equipped with the assets it needs to succeed.


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The massive decline in DryShips’ shares began in mid-2014, and DRYS has remained in a highly-bearish downtrend ever since. The underlying narrative is, and for quite some time has been, one of disappointment after disappointment. These factors that contributed to, and continue to contribute to, this price action include a hurtful down turn in the dry bulk market, multiple reverse stock splits that have crushed investors, liquidity and leverage concerns and signs of an uncommitted CEO in George Economou who is already looking for a way out, among others. The combination of all these factors and more have been reflected in the stock price by market participants, and this price action was picked up by the I Know First algorithm for continued bearish price movements.

Current I Know First subscribers received this bearish DRYS forecast on April 4th, 2017. 

Before making any trading decisions, consult the latest forecast as the algorithm updates predictions daily. You can use the algorithm 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.