Here's Why DryShips Inc. Stock Continues to Explode Higher [The Motley Fool]
DRYSHIPS (DRYS)
US:NASDAQ Investor Relations:
dryships.irwebpage.com/ir.html
Company Research
Source: The Motley Fool
The deeply indebted shipping company has made a significant move since the election of Donald Trump. Image source: Getty Images. What happened Shares of DryShips ( NASDAQ:DRYS ) surged on Monday, up more than 60% by 11:45 a.m. EST. Today's rise is the continuation of the company's epic run over the past week: DRYS data by YCharts . So what Fueling that run are two drivers. First, the company is actively working with lenders to restructure its bank credit facilities. Three of them have matured, and the company has yet to make final balloon payments, instead suspending principal and interest payments to preserve liquidity. However, the company has been actively selling off vessels to pay down its revolving credit facilities. For example, at the end of October, it announced the sale of five vessels for $29.4 million. Given the steps it is taking to address its credit facilities, there's some growing optimism in the market that DryShips can restructure i
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