DryShips Inc. (DRYS) started off at $1 million per share, ballooned up to a few million per share between 2007-2008, then it declined dramatically from there. Now it's going for a few dollars. What could cause this dramatic of price change?!
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What is people's obsession with this company?– quidApr 13, 2017 at 23:22
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@quid It's the million dollar price tag that makes people do a double-take– magnetarApr 13, 2017 at 23:55
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2The company never traded for a million dollars a share. There have been 5 reverse splits since 2016. 1:25, 1:4, 1:15, 1:8 and 1:4. These reverse splits turned 48,000 at the beginning of 2016 shares in to 1 today. The company is running at -800% net margin. There's no telling why this thing still exists. The highest price this company ever got to, ever, is about $123 ($5,928,000 illustrated historical price divided by 48,000 the equivalent number of shares of a single share today)– quidApr 14, 2017 at 0:05
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@quid wow that is insane! I don't know why it's still listed either or how that's even allowed to happen.– magnetarApr 15, 2017 at 8:09
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1 Answer
Because it's a declining company and used as an institutional sized pump and dump with a new toxic financing every week. Look up Kalani Investments - they're behind it all.
