Is DRYS Stock Back?
It wasn’t so long ago that DryShips Inc. (NASDAQ:DRYS) was having an over-200% climb in one day. A short month after that, DRYS stock was peaking near the $100.00 mark, up from single digits, only to be brought right back down to earth again (or should we say sea level?), flattening out back right where it started in the $5.00-per-share range.
While December 15 doesn’t have quite the same scale of growth, there’s still excitement surrounding DRYS stock, as it gained 52% after a press release on financing and expectations.
The press release stated that the company had secured $200.0 million in financing, and it is expected to enter into a new agreement with TMS Bulkers Ltd. and TMS Offshore Services Ltd. The ensuing buzz around the deal and financing helped spur on the surge we witnessed on Thursday. (Source: “DryShips (DRYS) Stock: Here’s Why It’s Up Big,” CNA Finance, December 15, 2016.)
But what’s most interesting for DRYS stock is whether this deal—and the resultant spike in stock price—is sustainable. Investors are wary after the volatility of mid-November, when the stocks shot up and down intermittently.
The stock is also being watched as part of a potential resurgence in the shipping index following the election of Donald Trump. The impact of his policies may affect a profound shift in the industry, but again, that will bear watching.
But for DRYS stock on Thursday, all was well and good. The future may be unknown for the company, but Thursday marked a solid gain.