DryShips (DRYS) Leading Bulk Shipping Sector Higher; Stock Up 18%

January 2, 2009 11:52 AM EST

Shares of DryShips (Nasdaq: DRYS) are moving significantly higher today on extremely heavy volume, especially considering today is the last day in an abbreviated holiday trading week. DryShips' stock most recently traded at $12.63, up about 18.4% from Wednesday's closing price. Also, the stock has already changed hands more than 14 million times, which compares to its average daily volume of just under 20 million shares.

Despite huge trader interest in the popular dry bulk shipper today, we are not hearing any news that would justify today's massive upside move.

Today marks the third trading session in a row that shares of DryShips have traded a good deal higher. With DryShips jumping 7% on Tuesday and 11% on Wednesday, the stock has now surged about 30% since last week's close.

Elsewhere in the sector:

• Teekay (NYSE: TK) up 8.8% to $21.37
  
• Diana Shipping (NYSE: DSX) 10.5% to $14.10
  
• Genco Shipping & Trading (NYSE: GNK) up 15.8% to $17.14
  
• Danaos (NYSE: DAC) up 13.8% to $7.69
  
• Navios Maritime Holdings (NYSE: NM) up 16% to $3.67
  
• TBS International (Nasdaq: TBSI) up 13.8% to $11.41

DryShips, Inc. engages in the ownership and operation of drybulk carriers worldwide.

Related Categories

Corporate News
Insiders' Blog

Stocks Mentioned

Add Your Comment

Name

Subject

Body

Verification can't see the text?
click here to refresh the image.
what's this?