Following up on the strong gains that we saw yesterday, Globus Maritime Ltd (NASDAQ: GLBS) is having yet another strong start to the trading session this morning. However, the company hasn’t released any news either this morning or last night that would suggest that these gains would be here. Nonetheless, we believe that we’ve found the reason for the gains. Today, we’ll talk about:
- What’s going on with GLBS;
- what we’re seeing from the stock; and
- what we’ll be watching for ahead.
What’s Going On With GLBS?
As mentioned above, Globus Maritime is having a strong start to the trading session in the pre-market hours, following up on the gains that we saw yesterday. While the company has not released any news this morning or last night, there are several reasons that the stock is headed up. Here’s why we believe the gains are happening:
November – Historically, November has been a relatively strong month for GLBS and the rest of the shipping industry. Many blame holiday shipments for the strong month that is often seen.
Regained Compliance – A few days ago, the company announced that it had regained compliance with the NASDAQ minimum bid price rule. This means that the company will remain listed on the NASDAQ and enjoy all of the benefits that come along with that.
Trump – Finally, Trump is playing a role in the gains we’re seeing from GLBS and the rest of the shipping sector. After putting an end to the Postal Treaty, shippers have an opportunity to earn more revenue. Then, late yesterday, it was announced that Trump has asked that a new trade agreement with China be drafted. Should this trade agreement be signed, demand for shipments between the two countries will likely increase. This is yet another source of excitement for investors interested in the stock.
What We’re Seeing From The Stock
While Globus Maritime hasn’t released any news of their own, the news surrounding the shipping sector is enough to send the stock screaming for the top. After all, a potential trade agreement will likely help to boost the company’s revenue. This mixed with regained compliance and a generally positive time for shippers is exciting investors who are sending the stock on a run for the top. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (7:46), GLBS is trading at $10.12 per share after a gain of $0.68 per share or 7.20% thus far today.
Stop wasting your time! Start finding winning trades in minutes with Trade Ideas!
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on GLBS as wella s the rest of the shipping sector. With a big geopolitical story unfolding in front of us, there may be quite a bit to be excited about ahead. Nonetheless, we’ll continue to keep a close eye on the news and bring it to you as it breaks!
Never Miss The News Again
Do you want real-time, actionable news delivered to your inbox? Join the CNA Finance mailing list below!