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DryShips crashes 67% as trading resumes

Jonathan GarberNov 17, 2016, 21:26 IST

Shares of DryShips, a shipping company that transports raw materials and other commodities, are crashing after resuming trading on Thursday. The stock was halted Wednesday morning after seeing a gain of more than 1000% in the wake of Donald Trump's US election win. Thursday's drop of more than 67% comes after the company announced it was entering a registered direct offering of convertible preferred shares.

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