Globus Maritime Ltd (NASDAQ: GLBS)
Globus Maritime has had an incredible time in the market as of late. In fact, over the past two trading sessions, the stock has closed the day off well into the green. Now, it looks like the run is going to go for a third. Below, we’ll talk about what we’re seeing from the stock, why, and what we’ll be watching with regard to GLBS ahead.
What We’re Seeing From GLBS
As mentioned above, Globus Maritime is having an incredibly strong time in the market lately. Closing with strong gains on Tuesday and Wednesday, the stock is looking to close the day in the green yet again today. Currently (10:14), GLBS is trading at $7.37 per share after a gain of $0.59 per share or (8.70%) thus far today.
Why The Stock Is Edging Upward
The truth is that shipping stocks as a whole have been crazy to watch lately, they’ve climbed big, fallen big, and repeated. However, there’s a good reason for this movement. Recently, the Baltic Dry Index, the index that tracks shipping sector conditions, has skyrocketed! This is great news for GLBS and others, as it likely means that demand and pricing is going to rise in the shipping sector.
Another big factor here is the fact that Donald Trump seems to be working to make good on his promises. If he does make good on some of his larger promises, we’ll seen changes to trade agreements early on. These changes will likely help the shipping sector. As a result, Globus Maritime and others in the sector are getting a boost from the Donald Trump win as well.
What We’ll Be Watching Ahead
Moving forward, we’ll be keeping a close eye on GLBS. First and foremost, we’re going to be watching the shipping sector as a whole, including stories like the Baltic Dry Index and Donald Trump’s plans. Nonetheless, we’ll also be watching for company-specific news. When the story breaks, we’ll be sure to bring the news to you!
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[Image Courtesy of Pixabay]