Volume Soike & Price Tanker: Nordic American Tanker (NAT, DRYS)

Posted in General 
January 8th, 2009

Nordic American Tanker Shipping Ltd. (NYSE: NAT) is geting hammered this morning on very active trading.  At 9:25 AM EST we have already seen 243,000 shares trade and the average volume is only 822,000 shares.  The price drop is a harsh one at -8.5% to $32.44.  The culprit is a questionable secondary offering.

DryShips inc. (NASDAQ: DRYS) has little overlap in the sub-sector of shipping other than that it is shipping and it  does transport goods around the world.  DryShips is also one of the more volatile trading stocks out there in the sector.  Its shares are down almost 4% at $12.45 at 9:27 AM EST on 216,000 shares.  Its average volume is now north of 14 million shares as day traders love the volatility.

Jon C. Ogg
January 8, 2009

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