Ever been interested in deep sea shipping? Dryships Inc. (DRYS) has a fleet of 45 dry bulk carriers that sail in all the oceans of the world. They transport coal, iron, grains, fertilizers, and steel. It's total fleet can carry over 4 million deadweight tons. Dryships is managed by Cardiff Marine Incorporated which is headed by CEO George Economou who controls more then 50% of it.
In january of 07 the stock was at about $18 a share. It had been roughly in this neighborhood for a while. By May it had shot up to almost $40. By July almost $65. By september nearly $80. By October nearly $100. About a week before Halloween it was around $130. Then it started to take a tumble and by a week before Thanksgiving it had fallen to less than $70. By early December it was rising again and it was up to about $95 a share. Since then it has been sliding again and so on December 17th 07 it closed at $72.18 after taking a $12 hit for that day.
O.k. so there are two ways to look at this. Overall for the year it is way up. It went from under $18 to over $70 as of today which is great. The other way to see it is that it went from $130 to less than $70 in one month which is horrible. If you are interested in it be careful. It's been pretty all over the place especially in the last months of the year.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment