Diana Containerships Inc (NASDAQ: DCIX)
The past couple of days have been great for shipping stocks, and Diana Containerships has seen a good chunk of the gains. However, today, the stock is far outpacing anything else in the sector. Below, we’ll talk about what we’re seeing from DCIX, why, and what we’ll be watching for surrounding the stock ahead.
What We’re Seeing From DCIX
As mentioned above, Diana Containerships has had an incredible time in the market over the past two trading sessions. Not to mention, today’s trading session is bringing even more massive gains. Since the opening bell, the stock has been in the green and climbing higher. At the moment (10:18), DCIX is trading at $15.89 per share after a gain of $9.75 per share (158.74%) thus far today.
Why The Stock Is Gaining
At the end of the day, DCIX is enjoying gains for the same reasons that every other stock in the sector is climbing. Here’s what’s happening:
- Baltic Dry Index – First and foremost, the Baltic Dry Index is playing a major role for Diana Containerships and the shipping industry as a whole. This index tracks shipping demand. Recently, the index climbed from under 800 points to over 1,000 points. This means that demand is likely heading up for the sector.
- Holiday Season – Another factor that’s helping to lift DCIX is the season. Historically, the holiday season has brought dramatic amounts of business to shipping companies. As more and more consumers shop online, investors are expecting the holiday season to be incredibly fruitful for shipping stocks.
What We’ll Be Watching Ahead
Moving forward, we’ll be keeping a close eye on the Baltic Dry Index. With the index climbing, shipping stocks like DCIX are doing the same. However, any changes in momentum in the index can lead to changes in momentum for the entire shipping sector. Nonetheless, with the holiday season upon us, we’re not expecting to see any changes anytime soon!
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