DryShips Inc (DRYS) was $5 on Dec 23 2016 in contrast to at present’s worth of $1.16 – one other 52-week low. Shares of DRYS are down 76% in the past month and shareholders are questioning the place is the underside?
DRYS dropped one other penny whereas writing this text and now stands at $1.15. Volume on shares of DRYS has been screaming the past week and at this time with a couple of hours earlier than the shut DRYS has handed 40 million shares traded. The 5 day loss is at 46% on DRYS shares from the $2 degree. All that promoting seems justified now that the corporate has introduced… DUM DUM DUM!
A Reverse Stock spit.
That’s proper, for each eight shares you personal of DRYS you now get 1 share. The cut up is efficient subsequent Monday, Jan 23. A determined act by the corporate to maintain it’s shares on the NASDAQ earlier than desliting happens as soon as it will get under $1.
DRYS has 69,357,841 shares as of at this time, after subsequent week will probably be roughly eight.7 million shares.
Click in the event you care to learn More on the smoke and mirrors show from the company.
SOURCE: thestockmasters – Financial News, Stock Market Trading, the Best Stock Picks for the Savvy Investor – Read whole story here.