Shares of DryShips (NASDAQ:DRYS) plunged during Friday trading after the company announced a $475 million stock offering that will dilute shares by 25%. According to Credit Suisse analyst Greg Lewis, the company needs money for its deep-water-rig assets as well as for bulk new buildings. "This move is highly dilutive," he said in a note to investors, adding that the company has issued almost 200 million shares valued at $1.1 billion since last year's fourth quarter. The stock price has fallen 90% in the last year
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