In 2016, DRYS stock rose sharply. DryShips is a dry bulk company and its fortunes are closely tied to global trade. As is the case with most short squeezes, a piece of news or a positive fundamental story triggers a buying spree in the stock.
Full Answer
Why did DryShips (DRYS) stock rise in 2016?
In 2016, DRYS stock rose sharply. DryShips is a dry bulk company and its fortunes are closely tied to global trade. As is the case with most short squeezes, a piece of news or a positive fundamental story triggers a buying spree in the stock. In 2016, the Baltic Dry Index hit a multi-month high and crossed 1,000.
How much is a share of DryShips worth?
One share of DRYS stock can currently be purchased for approximately $5.24. How much money does DryShips make? DryShips has a market capitalization of $457.10 million and generates $186.13 million in revenue each year.
Did day traders Pump Up drys stock?
Ihor Dusaniwsky of S3 Partners contended that it was day traders pumping up DRYS stock that was driving up the prices. He argued that the trading volumes in DRYS stock were way above the volumes that have been sold short, so shorts could have easily cover their positions without much difficulty and price impact.
Did DryShips do a short squeeze?
The DryShips short squeeze was preceded by two reverse splits of the common stock. In 2016, DryShips did two reverse splits. The first one was a one-for-four split and the second was a one-for-15 split in Nov. 2016. After the second split, only about 1 million DRYS shares were available as the float.
What happened with drys stock?
DryShips (NASDAQ:DRYS) announces that the acquisition of the company by SPII Holdings has been completed. The company is now effectively owned by Chairman/CEO George Economou.
What is drys stock?
Key Turning Points52-Week High7.22Last Price5.24Fibonacci 50%5.15Fibonacci 38.2%4.6652-Week Low3.081 more row•Oct 10, 2019
Who bought drys?
DryShips used these funds to purchase additional ships for its fleet, increasing the number of operating ships to roughly 36....DryShips.TypePrivateFounded2004FateAcquired by SPII HoldingsHeadquartersAthens, GreeceKey peopleGeorge Economou (CEO, Chairman)3 more rows
What is dry ship?
What is Dry Shipping? Dry shipping is the most trusted and popular form of goods transportation. Dry shipments are held in an enclosed trailer, unlike a flatbed shipment that's exposed on the back of a truck. This enclosed trailer space also makes dry shipping highly versatile for a number of products.
Which is correct drys or dries?
verb (used without object), dried, dry·ing. to become dry; lose moisture. noun, plural drys, dries [drahyz]. /draɪz/. a prohibitionist.
How were DryShips' earnings last quarter?
DryShips Inc. (NASDAQ:DRYS) announced its quarterly earnings data on Monday, August, 8th. The shipping company reported ($83.30) earnings per share...
Is DryShips a good dividend stock?
DryShips(NASDAQ:DRYS) pays an annual dividend of $0.10 per share and currently has a dividend yield of 0.00%. View DryShips' dividend history .
When did DryShips' stock split? How did DryShips' stock split work?
DryShips shares reverse split before market open on Friday, July 21st 2017. The 1-7 reverse split was announced on Tuesday, July 18th 2017. The num...
Who are DryShips' key executives?
DryShips' management team includes the following people: Mr. George Economou , Founder, Chairman & CEO (Age 66) Mr. Anthony Kandylidis , Pres,...
Who are some of DryShips' key competitors?
Some companies that are related to DryShips include Costamare (CMRE) , Danaos (DAC) , SFL (SFL) , Navigator (NVGS) , DHT (DHT) , Genco Shippi...
What other stocks do shareholders of DryShips own?
Based on aggregate information from My MarketBeat watchlists, some companies that other DryShips investors own include Rite Aid (RAD) , Zynga (ZN...
What is DryShips' stock symbol?
DryShips trades on the NASDAQ under the ticker symbol "DRYS."
What is DryShips' stock price today?
One share of DRYS stock can currently be purchased for approximately $5.24.
How much money does DryShips make?
DryShips (NASDAQ:DRYS) has a market capitalization of $457.10 million and generates $186.13 million in revenue each year.
About DryShips Inc
DryShips Inc. provides seaborne dry cargo and offshore support services. The company operates through Drybulk and Offshore Support segments. The Drybulk segment provides drybulk commodities transportation services for the steel, electric utility, construction, and agri-food industries.
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What happened to DryShips (DRYS) stock?
In 2016, DRYS stock rose sharply. DryShips is a dry bulk company and its fortunes are closely tied to global trade. As is the case with most short squeezes, a piece of news or a positive fundamental story triggers a buying spree in the stock.
The DryShips short squeeze was preceded by two reverse splits of the common stock
In 2016, DryShips did two reverse splits. The first one was a one-for-four split and the second was a one-for-15 split in Nov. 2016. After the second split, only about 1 million DRYS shares were available as the float. While many believe that it was a massive short squeeze in DRYS stock, some disagree.
DRYS doesn't even make the list of the biggest short squeeze in history
There have been several major short squeezes in recent history. These include:
GME short squeeze
GME was an epic short squeeze. At its peak, 140 percent of GME shares were sold short. You need not be a financial wizard to tell that it is a way too high short interest for any company. Look at it this way: for every 1 GME share, 1.4 were sold short.
What happened
Shares of shipping company DryShips (NASDAQ: DRYS) fell roughly 11% in the first month of the new year, according to data provided by S&P Global Market Intelligence. That, however, doesn't actually capture the full drop the stock experienced, because DryShips started January 2019 off with a nearly 20% rally.
So what
There is some less-than-compelling history behind DryShips that includes massive shareholder dilution and an almost complete loss of the stock's value over the trailing-three-year period. To get it out of the way pretty quickly, most investors should probably avoid the stock. That said, the shares gained a huge 60% in 2018.
Now what
At the end of the day, the January decline shouldn't come as any surprise given the volatile industry in which DryShips operates. However, the story here is so much bigger. DryShips has far more worrisome problems (like the massive shareholder dilution noted above) than just a price drop in January.
NASDAQ
The Company owns and operates fleets. The companys fleet carries various drybulk commodities, including coal, iron ore, and grains, bauxite, phosphate, fertilizers and steel products.
Environmental, Social, and Governance Rating
"A" score indicates excellent relative ESG performance and a high degree of transparency in reporting material ESG data publicly and privately. Scores range from AAA to D.
Business Summary
The Company owns and operates fleets. The companys fleet carries various drybulk commodities, including coal, iron ore, and grains, bauxite, phosphate, fertilizers and steel products.
