Recent price: $2.80 The dry shipping industry, which carries dry-bulk goods on massive container ships, has been beset by weak demand and too much capacity. As a result, lease rates for these ships plunged, leading many industry players scramble for survival. DryShips, which traded above $100 in 2008, is now worth less than $3 a share. Yet just-released quarterly results imply that a bottom has been reached. Better-than-expected lease rates led to $318 million in revenue, ahead of the $296 million consensus forecast. Better still, the company topped the consensus profit forecast for the first time in four quarters, earning two cents more than the $0.14 prediction. Profits would have been a lot more robust if not for some bad bets on currency swaps. This stock will never revisit its past heights, simply because its share count has risen nearly 1,000% in the past four years, but a return to $5 or even $7 isn't out of the question now that industry dynamics are reversing.