Volume Spike Investor

DryShips Inc. (Nasdaq: DRYS) is seeing a rather large surge in trading volume this morning.  The culprit is an analyst upgrade.  Oppenheimer raised its prior Underperform rating to a “Perform” rating.  That isn’t exactly a huge endorsement like an “outperform” rating would have been, but it also removes one more sell-bias from the analyst community.  Shares are up 10% at $4.20 on more than 700,000 shares of stock at 8:55 AM EST.

Keep in mind that this stock is down from more than $100.00 a year ago.

Jon C. Ogg
February 23, 2009