DRYS Agrees R/S 1-4 up pre open
DryShips Agrees 1-for-4 Reverse Stock Split: Stock Jumps More Than 3% Pre-Market
Reverse-Stock Splits Won't Help Dry-Bulk Shippers -- Market Talk
9:12 ET - It's apparently the morning that dry-bulk shippers are moving to do something about their long-depressed stock prices. Both DryShips (DRYS) and Eagle Bulk (EGLE) just announced reverse-stock splits, with EGLE's 1-for-20 move taking effect with today's trading and DRYS doing a 1-for-4 reverse split as of Aug. 15 . DRYS has been trading below $1 since mid-June, versus a prior-year level above $10 , and EGLE's split-adjusted $8.10 closing finish yesterday compares with $180 a year ago. As we've said, reverse splits often don't stop stock prices from shrinking further. With DRYS and EGLE already down 90% this year, don't expect much different with these two. (kevin.kingsbury@wsj.com; @kevinkingsbury)
(END) Dow Jones Newswires
08-05-16 0912ET
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