Market Overview

Diana Containerships Higher By 500%

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Diana Containerships Inc (NASDAQ: DCIX) shares are trading higher by $14.60, or 580 percent, at $15.00 in Friday's session.

The stock is in rocket-ship mode. The only relevant news out on the stock is its 1-for-7 reverse split on Thursday morning and due to its absence of liquidity, relentless bulls are feasting on the stock.

The trading action mirrors the price activity in DryShips (NASDAQ: DRYS) and one of its several reverse splits.

DryShips: Clear Sailing Or Will It Sink Again?

After a sizable gain on Thursday from $2.10 to $2.50 on much higher than average volume, the DCIX showed up on high-frequency trading scanners across the globe to fuel the rally.

The stock continues to make new highs for the session, with the current one being $19.70 as of 2:11 p.m. EST.

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