DryShips Inc.: Big Volume Dispels All Doubt (Almost) [Seeking Alpha]
DRYSHIPS (DRYS)
US:NASDAQ Investor Relations:
dryships.irwebpage.com/ir.html
Company Research
Source: Seeking Alpha
Summary Trading in DryShips Inc. ( DRYS ) started in a desultory fashion this week, but, beginning Tuesday August 8th, DRYS commenced a rally finishing up 24% from its $1.30 Monday close to a $1.77 close on Wednesday on decent volume. On Thursday August 11th, DRYS put to rest any question about another reverse stock split (barring another act of nefarious shareholder sabotage by management) by rallying another 15% and closing above $2 on booming volume of 45.25 million shares. The table below provides estimates of the remaining equity issuance assuming equity issuance week-to-date equaled between 5% and 7% of volume traded. As a percentage of EMV, remaining equity issuance is likely below 35% at Thursday's close and there is a decent chance that management took advantage of the volume today and issued shares at a greater than 5% of volume pace. In either event, the remaining equity issuance is at a very manageable level and, barring any detrimental action by management, the st
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