|Bid||N/A x N/A|
|Ask||N/A x N/A|
|Day's Range||N/A - N/A|
|52 Week Range||undefined - undefined|
|PE Ratio (TTM)||N/A|
|Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
DryShips Inc. (NASDAQ:DRYS) shares fell hard this morning after management announced that a reverse stock split is in the cards. Specifically, the Greece shipping company has determined to effect a 1-for-7 reverse stock split of the Company's issued common shares. Typically, stocks only reverse split after they've been in a long downward spiral and they're at risk of being booted off a reputable stock exchange.
Greek carrier DryShips sold vast sums of discounted shares to an offshore firm and propped up prices with “reverse splits,” sending investors on a wild ride that, for many, ended with steep losses.