Major Volume Spike: DryShips (DRYS)

Posted in General 
January 22nd, 2009

DryShips, Inc. (NASDAQ: DRYS) is getting killed in pre-market trading today. The company is cutting guidance, canceling ship purchases and cap-ex, cutting its dividend, and hunkering down for what feels and sounds like a grizzly environment ahead.  NEWS SUMMARY at 24/7 Wall St.  Keep in mind that this is one of the most volatile stocks that can swing wildly in any direction.

As of 9:00 AM EST this stock has seen more than 1.15 million shares trade hands.  Its shares are also down close to 20% at $11.60 in pre-market trading.  To show how volatile this one is, the 52-week trading range is $3.04 to over $116.00.

This stock is so volatile, that if it was a person it would need more pills than Elvis Presley.

Jon C. Ogg
January 22, 2009

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