Replies to post #20814 on DryShips Inc (fka DRYS)

[ttottip]

You don't need to make many calculations. GE has made within less than a year 3 R/S' :25×4×15=1500. Now let suppose that someone bought 100,000 shares 2 years ago, hoping to make huge profit because he or she was buying at around $1 (on January 2015 the price has been around $1) Today this buyer has :100,000:1500=66.666 shares,or 67 dollars from $100,000 two years ago. Before the first r/s the price was around $0.1. 100,000 shares bought that time have a value of 67 dollars today. Hundreds of hundreds of millions of dollars people have lost within a year alone. Now with the new r/s the coefficient is 1500×8=12,000 for all r/s'.

[shadolane]

Thanks for your response and confirmation.

Another poster indicated his 48,000 shares had been reduced to 4 shares which also confirms.

Unbelievable that this could happen.

But the October filing by DRYS allows the reverse splits to happen whenever they want them.

Too crazy in my opinion.