Why DryShips Inc.'s Stock Is Soaring Today [The Motley Fool]
DRYSHIPS (DRYS)
US:NASDAQ Investor Relations:
dryships.irwebpage.com/ir.html
Company Research
Source: The Motley Fool
Investors are growing more bullish on the shipping stock. Matthew DiLallo ( TMFmd19 ) Oct 22, 2018 at 4:00PM What happened Shares of DryShips Inc. ( NASDAQ:DRYS ) rallied more than 10% by 2:45 p.m. EDT on Monday. Several factors seem to be driving the stock higher. So what Shipping stocks are broadly higher today. One catalyst propelling the bullishness is that the Baltic Dry Index is rising for the third straight day and is currently toward the upper end of its 52-week range. The index, which measures changes in shipping rates, is thought to be a leading economic indicator for future shipping demand. So if the index rises, it suggests that the rates shipping companies can earn when leasing their vessels to customers should increase, which would boost the profitability of companies like DryShips. Image source: Getty Images. Also add
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