Market Overview

I think you’ll love what you hear,
what you’ll see and the opportunities
that will be set before you.
- Jon Najarian

DryShips' Incredible Whale Of A Tale Of The Tape Day

DryShips' Incredible Whale Of A Tale Of The Tape Day

DryShips Inc. (NASDAQ: DRYS) is an owner of dry-bulk carriers and offshore support vessels. The stock gained more than 150 percent on Thursday after the company reported its third-quarter results after Wednesday's market close.

DryShips reported that it lost $7.70 per share on revenue of $50.76 — hardly the type of headline numbers that would support a 150 percent surge.


DryShips' stock was halted on a circuit breaker shortly after noon on Thursday when the stock gained 60 percent on the day and was trading at $8.17.

The stock resumed trading at 12:31 p.m. ET and when the halt was lifted shares were higher by 82 percent on the day.

A second trading halt due to a circuit breaker occurred at around 12:46 p.m. ET. Another halt occurred after 2:00 p.m. ET and when shares resumed trading it had gained 150 percent.

Shipping Names Follow DryShips' Lead

Here is a summary of other shipping names and their stock's performance with 30 minutes left of trading on Thursday:

  • Ardmore Shipping Corp (NYSE: ASC): +11.61 percent.
  • Eagle Bulk Shipping Inc (NASDAQ: EGLE): +20.40 percent.
  • Nordic American Tanker Ltd (NYSE: NAT): +16.15 percent.
  • Scorpio Tankers Inc. (NYSE: STNG): +7.40 percent.
  • Tsakos Energy Navigation Ltd. (NYSE: TNP): +6.68 percent.

Posted-In: DryShips Shipping Companies shipping stocksMarkets Movers Trading Ideas Best of Benzinga


Related Articles (DRYS + ASC)

View Comments and Join the Discussion!

Luxury Retail Having An Exquisite Q3 Thus Far

JPMorgan Believes Its Positive Long-Term Thesis On Alexion Remains Intact