Rand Logistics, Inc. (NASDAQ: RLOG) is having an incredibly strong time in the market today as the shipping sector as a whole continues to fly. Today, we’ll talk about what we’re seeing from the stock, why, and what we’ll be watching for with regard to RLOG ahead.
What We’re Seeing From RLOG
As mentioned above, Rand Logistics is having an incredibly strong time in the market this morning. As the shipping sector climbs, the stock is benefiting from its position as a logistics provider to bulk shippers. Of course, our partners at Trade Ideas were the first to alert us to the gains. Currently (10:34), RLOG is trading at $0.24 per share after a gain of $0.02 per share or 10.70% thus far today.
Why RLOG Is Climbing Today
As a provider of logistics to bulk shippers, when bulk shippers see gains in the market, Rand Logistics tends to follow. Well, that’s exactly what we’re seeing today. The sector-wide gains started with gains in Diana Containerships (NASDAQ: DCIX), when Morgan Stanley filed a SC 13G surrounding the stock with the SEC.
As a result of the investment Morgan Stanley made in DCIX, the stock climbed dramatically, fueling a sector-wide run for the top. Of course, with RLOG being part of the shipping industry, the stock is enjoying the gains along with the rest.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on RLOG and the rest of the shipping sector as a whole. In particular, we’re going to continue following the demand in the sector as a whole. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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