Here We Go Again: DryShips In Another Rally

DryShips Inc. (NASDAQ: DRYS), a tiny nano-cap owner of drybulk carriers and offshore support vessels, made headlines shortly after the U.S. presidential election when the stock soared from under $5 per share to above $100 per share.

Following a whopping 1,500 percent return in just a few days, the Nasdaq stock exchange halted the Greek-based company. Once reality set in, the stock just as quickly returned to below the $5 per share mark and investor attention faded.

Here We Go Again

DryShips' stock closed for trading at $3.55 on Wednesday but opened at $4.11 on Thursday. After hitting an intra-day high of $5.44, the stock closed the day at $5.40 — notching a more than 50 percent return.

The shipping sector was ripe with new developments on Wednesday and Thursday, but some investors are questioning if it supported such large gains in the sector. For example, Euroseas Ltd. (NASDAQ: ESEA) raised $1 million in funding via a private placement agreement with the company's largest shareholder, Friends Investment Co, which resulted in the stock gaining nearly 80 percent on Thursday.

Here is a summary of how some shipping stocks are performing early Friday morning:

• Dryships: +5.74 percent at $5.71.
• Euroseas: +15.20 percent at $2.88.
• Diana Containerships (NASDAQ: DCIX): +9.54 percent at $4.25.
• Globus Maritime Ltd (NASDAQ: GLBS): +4.23 percent at $6.65.
• Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) 11.54 percent at $1.45.