DRYS – “Reverse Split”

Short selling DRYS (DryShips Inc.) after their 7:1 reverse split this morning.

DRYS has been reverse splitting on a nearly weekly basis lately, and today they were at it again. This morning’s 7:1 reverse split was yet another show of weakness, and was an easy short. When you see a financially unhealthy company with a bearish chart that reverse splits to avoid NASDAQ de-listing, look for a short entry.