Globus Maritime Ltd (NASDAQ: GLBS)
Globus Maritime is having yet another strong day in the market today, following up on recent gains. In fact, the stock has been trading up since a few days prior to President Trump’s inauguration. The questions now are why is Trump sending the stock up, and will it last? Below, we’ll talk about what we’re seeing from GLBS, why, and what we’ll be watching for ahead.
What We’re Seeing From GLBS
As mentioned above, Globus Maritime has had a strong time in the market in recent trading sessions, and this session seems to be the same. At the opening bell, the stock found itself well into the green. While we have seen a bit of a correction in the early minutes of the session, the stock is still trading in the green and is likely to end the day on the strong note. In fact, at the moment (10:36), GLBS is trading at $10:05 per share after a gain of $0.35 per share (3.61%) thus far today.
Why the Stock Is Gaining
As mentioned above, GLBS has been on a strong run for several sessions in a row now, and it’s for a good reason. Ultimately, the gains that we’ve seen on the stock are part of a Trump-fueled rally, not only on this stock, but for the shipping sector as a whole. You see, Donald Trump is now the President of the United States. Throughout his campaign, one of the most important messages he focused on was the changing of trade agreements.
At the moment, trade agreements are kicking international shipping companies in the United States down. In fact, these shipping companies aren’t even capable of setting their own prices in many cases. However, Trump aims to change that and he has already started the work on these agreements in his early days in the office. As a result, Globus Maritime and other international shipping companies are creating a bit of excitement.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on GLBS and others in the shipping sector. Ultimately, we’ll be watching Trump’s moves with regard to trade agreements and how international shipping companies capitalize on the moves. We’ll keep a close eye on the news and bring it to you as it breaks!
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[Image Courtesy of Wikimedia]