Dryships (DRYS), a cautionary tale for any investor.
How is any of this legal? Where are the regulators? People often disparage the Chinese stock market as being phony and tout the superiority of the honest western markets. Not seeing it. I don't see much difference between us and them. This isn't the first time this has happened to a stock I owned. I had a biotech a few years back. They were on the verge of a breakthrough when the CEO sold the IP to a new company he formed. Less than a few months later, he then sold the IP to a large phamaceutical. His new privately owned company got all the profit. The publicly traded leftover shell and it's investors that developed it got butkus. That's American business for you.