What We’re Seeing From The Stock
As investors, one of the first things that we learn is that the news moves the market. In this particular case, the news proved to be overwhelmingly positive. Not only will DryShips be purchasing $50 million in shares, the company has also declared a dividend. Both of these are in the interest of investors. So, it’s no surprise to see strong gains in the value of the stock today. Currently (10:12), DRYS is trading at $3.53 per share after a gain of $0.68 per share or 23.79% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on DRYS. While we have our reservations surrounding the company due to its history with Kalani and of making financial moves that were not in the best interest of shareholders, it seems as though the company has been turning a new leaf as of late. This announcement is another announcement in which we see a good example of that. Ultimately, the share repurchase program and dividend are in the interest of investors. We’re hoping to see the continued alignment of interest between DRYS management and its investors moving forward! Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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