Setting sail for an economic rebound

By Paul R. La Monica, CNNMoney
2008-12-10 12:49:30

NEW YORK (CNNMoney.com) -- I took a look at some of the most actively traded stocks Wednesday morning. And the usual suspects were all there. Citigroup. Ford Motor. Intel. DryShips.

Wait a minute. DryShips? What is an Athens, Greece-based bulk shipper with a market value of less than $500 million doing in the company of these well-known American giants?

It's an interesting question. DryShips (DRYS), which surged more than 20% Wednesday morning, has been at the top of the actives list for the past few days. And shares are up nearly 140% so far this week.

It's not the only shipping stock on the move. Genco Shipping and Trading (GNK) were up 20% late Wednesday morning and more than 70% so far this week.

Eagle Bulk Shipping (EGLE) shot up 25% Wednesday morning and has nearly doubled this week.

Excel Maritime Carriers (EXM) had gained 20% as of late Wednesday morning and nearly 135% this week.

And all of these stocks have rallied on much larger-than-usual trading volume. So what gives?

	Investment Basic Investment Overview Investment Approache Fundamentals Data Investment Stories www.fxj108.com	Setting sail for an economic rebound By Paul R. La Monica, CNNMoney 2008-12-10 12:49:30 NEW YORK (CNNMoney.com) -- I took a look at some of the most actively traded stocks Wednesday morning. And the usual suspects were all there. Citigroup. Ford Motor. Intel. DryShips. Wait a minute. DryShips? What is an Athens, Greece-based bulk shipper with a market value of less than $500 million doing in the company of these well-known American giants? It's an interesting question. DryShips (DRYS), which surged more than 20% Wednesday morning, has been at the top of the actives list for the past few days. And shares are up nearly 140% so far this week. It's not the only shipping stock on the move. Genco Shipping and Trading (GNK) were up 20% late Wednesday morning and more than 70% so far this week. Eagle Bulk Shipping (EGLE) shot up 25% Wednesday morning and has nearly doubled this week. Excel Maritime Carriers (EXM) had gained 20% as of late Wednesday morning and nearly 135% this week. And all of these stocks have rallied on much larger-than-usual trading volume. So what gives?