Nasdaq-listed DryShips has seen its share price plunge 32% after it announced its fourth reverse stock split this year.
The George Economou company said the one-for-five reduction will take place on 22 June.
The shares closed at $1.19 on Monday as a result.
The move will reduce the number of shares from 24.06m to 4.8m.
It April, it cut its shares to 9m, but has since issued more to Kalani Investments, the Marc Bistricer-backed firm that is the shipowner's key financier.
