Diana Containerships Inc (NASDAQ: DCIX)
Diana Containerships isn’t having the best of days in the market today. When the opening bell rang, the stock quickly found itself in the red. From there, the stock has continued spiraling further down the path toward losses. Below, we’ll talk about what we’re seeing, why, and what we’ll be watching for with regard to DCIX ahead.
What We’re Seeing From DCIX
As mentioned above, Diana Containerships isn’t having the best of days in the market today. Upon the ringing of the opening bell, the stock quickly found itself in the red. Since then, we’ve seen a continuation of losses, leading the stock further and further down into the abyss. Currently (10:59), DCIX is trading at $3.34 per share after a loss of $0.54 per share (13.92%) thus far today.
Why The Stock Is Falling
As always, as soon as our partners at Trade Ideas let us know that DCIX was taking a dive, the CNA Finance team started digging to see exactly what was causing the movement. The truth is that it didn’t take long to uncover the story, and it’s definitely not something that is directly related to the company. Here’s what’s happening…
Yesterday, Diana Containerships climbed in the market. After DryShips announced funding and plans to work with other shipping companies, the shipping sector as a whole climbed. However, this was never going to last long. The reality is that the Baltic Dry Index is falling at the moment, and shipping stocks generally follow this index. So, following artificial inflation, we’re seeing a correction today.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on DCIX. In particular, we’ll be watching the Baltic Dry Index for an idea of where the shipping sector as a whole is headed. We’ll watch the news closely and bring it to you as it breaks!
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