Here's Why DryShips Inc.'s Stock Is Soaring Today [The Motley Fool]
DRYSHIPS (DRYS)
US:NASDAQ Investor Relations:
dryships.irwebpage.com/ir.html
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Source: The Motley Fool
The company’s founder and CEO is eating a bit more of his own cooking. Matthew DiLallo ( TMFmd19 ) Oct 6, 2017 at 3:42PM What happened Shares of DryShips ( NASDAQ:DRYS ) soared on Friday and were up 11% at 2:45 p.m. EDT. Driving the move higher was a filing showing that founder and CEO George Economou upped his stake in the company. So what Earlier today, DryShips's CEO said that he now owns 69.5% of the company's outstanding shares. That's up from the 53.5% stake he reported in a 13D filing last month. These purchases are all part of the shipping company's recent commitment to curb its dilutive stock sales . Image source: Getty Images. At the end of August, DryShips agreed to terminate a stock sale agreement with a third-party and that Mr. Economou would buy common shares, which he couldn't sell for six months. Under that deal, he
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