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Posted On: 05/05/2017 3:07:43 PM
Post# of 2218
$DRYS Reverse Stock Splits to Sell: DryShips (DRYS)
To the credit of DryShips Inc. (NASDAQ
RYS), the company is doing everything it can not to go down with what seems to be a sinking ship. If a reverse stock split is a red flag for an investor, DRYS shareholders should be fairly concerned at this point, to say the least.
DRYS stock underwent a 25-to-1 reverse split last March, a 4-to-1 reverse split last August, a 15-to-1 reverse split in November and an 8-to-1 reverse split last week.
DryShips management is trying desperately to maintain its $1 share price requirement to maintain a listing on the Nasdaq. The market is having none of it. DRYS stock is down a whopping 99.8% in the past year. Incredibly, the stock was down 78% in only six trading days after it announced its most recent reverse stock split.
The company is drowning in debt, and the market knows it. Unless you are a short-term trader looking for another massive, short-term short squeeze or a dead-cat bounce, stay away from DRYS stock.
To the credit of DryShips Inc. (NASDAQ
RYS), the company is doing everything it can not to go down with what seems to be a sinking ship. If a reverse stock split is a red flag for an investor, DRYS shareholders should be fairly concerned at this point, to say the least. DRYS stock underwent a 25-to-1 reverse split last March, a 4-to-1 reverse split last August, a 15-to-1 reverse split in November and an 8-to-1 reverse split last week.
DryShips management is trying desperately to maintain its $1 share price requirement to maintain a listing on the Nasdaq. The market is having none of it. DRYS stock is down a whopping 99.8% in the past year. Incredibly, the stock was down 78% in only six trading days after it announced its most recent reverse stock split.
The company is drowning in debt, and the market knows it. Unless you are a short-term trader looking for another massive, short-term short squeeze or a dead-cat bounce, stay away from DRYS stock.
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