Globus Maritime Ltd (NASDAQ: GLBS)
Globus Maritime is having an amazingly strong start to today's trading session. At the opening bell, the stock was trading slightly green before dipping down to the breakeven point. However, the stock started to soar dramatically minutes ago. In fact, the climb was so strong that it caused the stock to be halted. Below, we'll talk about what we're seeing, why, and what we'll be watching for with regard to GLBS ahead.
What We're Seeing From GLBS
As mentioned above, Globus Maritime is having an incredibly strong start in the market today. When the trading session opened for the day, the stock was already trading slightly green. From there, it dipped down a bit, but never made it to the red. Then, minutes ago, the stock started to soar in a big way. In fact, the gains were so big that at GLBS was halted at 10:08. Right before the halt, it was trading at $5.71 per share after a gain of $1.39 per share, or 32.17%.
Why The Stock Is Headed Up
First and foremost, let's give credit where it's due. Our friends at Trade Ideas were the first to inform us of the gains on GLBS. As soon as we received the alert, the CNA Finance team started digging to see why the stock was making a run for the top. However, in this case, the story continues to elude us. Here's what we do know...
So far, we know a few things. First and foremost, Globus Maritime is the subject of a T1 halt - a volatility halt - in the market. We also know that the stock isn't the only one running for the top. In fact, the gains are across the entire shipping sector. We also know that the sector is known for big runs in both directions. Finally, we know that economic conditions are improving, based on recent economic reports. However, there doesn't seem to be any company specific news breaking with regard to GLBS quite yet.
What We'll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on GLBS. In particular, we'll be watching closely for any company-specific or sector-specific news that could be causing such gains. We'll continue to follow the story closely and bring you the news as it breaks!
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