Investors Betting That Dry Bulk Shippers Have Already Bottomed (DRYS, EXM, DSX)

Numerous dry bulk shipping stocks are seeing substantial upside today on extremely heavy volume. Today's move marks the second day in a row that stocks in the space have spiked higher.

One analyst from Lazard Capital Markets issued a research note in response to the trading action, saying that investors could be betting that the sector, as a whole, may have bottomed. The analyst believes the abnormal levels of trading volume are one indicator that interest in the sector is widespread.

Among some of the top movers:

• DryShips (Nasdaq: DRYS) - up 31% to $9.39 following a 51% rise yesterday. The stock has already traded 56 million times, versus its average daily volume of 10.5 million.
  
• Excel Maritime Carriers (NYSE: EXM) - up 32% to $6.60 following upside of 35% yesterday. The stock has traded 10 million times today, compared to its average daily volume of 2 million shares.
  
• Diana Shipping (NYSE: DSX) - up 7% to $10.30 after a 19% rise yesterday. The stock has traded 3.4 million times today, versus its average daily volume of 1.9 million shares.
  
• Star Bulk Carriers (Nasdaq: SBLK) up 33.5% to $2.83 after an 18% rise yesterday. The stock has traded 1.1 million times, compared to an average daily volume of 340K.

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