The Bizarre DryShips story keeps getting more bizarre
Original story at Mother Jones• 4 mentions • 2 months ago
Mother Jones 2 months ago
A couple of months ago I wrote about DryShips, a bulk freighter company whose stock soared 15x overnight after Donald Trump’s election. Today the Wall Street Journal follows up on its original story: Investors who bought DryShips shares last fall and held on have lost almost all of their money. A $10,000 investment in DryShips stock at the beginning of November was worth $167,000 two weeks later, during the brief price spike, but only about $2 today. For DryShips, however, the cash that poured in from Kalani for new shares put the shipper on a strong financial footing. Its net ...