Is DRYS Stock Headed for Another Unpredictable Ride?
DryShips Inc. (NASDAQ:DRYS) lost nine percent Friday after showing solid gains the day before, mirroring the volatile ride DRYS stock experienced in November.
In case you were wondering, no, DRYS stock hasn’t really changed all that much. It’s still prone to high and unexpected gains, almost immediately followed by steep losses in a strange ebb and flow. This sequence reached its height last month, but is repeating itself again in December.
After gaining over 50% on Thursday and losing nine percent on Friday, investors have every right to ask the question, “what’s going on with DRYS stock?”
The gain itself is easily enough explained. A 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.)