Below were the data from yahoo of DRYS. Date Open High Low Close* Adj Close** Volume Oct 29, 2007 1,481,760,000.0000 1,544,558,336.0000 1,458,945,536.0000 1,540,207,232.0000 1,309,879,680.0000 - Oct 26, 2007 1,491,756,032.0000 1,493,402,368.0000 1,415,315,968.0000 1,452,359,936.0000 1,235,169,280.0000 - Oct 25, 2007 1,490,579,968.0000 1,508,220,032.0000 1,435,778,432.0000 1,458,240,000.0000 1,240,169,984.0000 - Oct 24, 2007 1,482,700,800.0000 1,519,274,368.0000 1,420,490,368.0000 1,466,471,936.0000 1,247,170,816.0000 - Oct 23, 2007 1,458,240,000.0000 1,512,924,032.0000 1,435,190,400.0000 1,510,101,632.0000 1,284,275,968.0000 The price on 10/29/2007 was about 1.5 billion per share. It now has about 86 million shares. So at 2007, it was a mutli-trillion comany which is wrong. Can you explain to me how to get the correct price at that time adjusted for the reverse splits and issuing new stocks? If you can show me an example about how to get these kind of wrong data, it will help me to understand the problem as well. Thank you.
No mistake. You have to multiply the stock splits since then. There were 8 of them, so.... 25 x 4 x 15 x 8 x 4 x 7 x 5 x 7 = 11,760,000. So take the Oct 23 adjusted closing price above: 1,284,275,968 and divide by 11,760,000 and you get 109.207 as DRYS price back then. The billions of dollars loss is really just a percentage of how much today's shares are worth relative to then...in other words, pennies to the dollar. In real terms, $1,000 in DRYS on 10/23/07 would be worth $9.16 today.
If you're going to look at the (split-adjusted) price in 2007, you will also need to look at the # of (split-adjusted) shares in 2007. Can't multiply 2007 price and 2019 shares to get any kind of market cap.
Thank you both for the answers. I found the data Date DRYS Shares Outstanding 7/21/2017 5.19M 12/31/2017 104.27M 2/20/2018 104.27M 12/31/2018 87.23M After 7/21/17, there were no splits and the prices were between $1 and $5. But why did the shares outstanding increased so much? Thanks.
DRYS was never a multi trillion dollar company, its split adjusted. There were less shares outstanding back then.
