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.
Dryships stock way up this year but lately it's hit rough waters
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