Sino-Global Shipping America, Ltd. (NASDAQ: SINO)
Sino-Global Shipping is off to an incredible start to the trading session today. After starting the day well into the green, the stock has only grown throughout the day. Below, we’ll talk about what we’re seeing from the stock, why, and what we’ll be watching for with regard to SINO ahead.
What We’re Seeing From SINO
As mentioned above, Sino-Global Shipping is having an incredibly strong start to the trading session today. After starting the day off in the green, the stock has headed further and further toward the top throughout the first hour and a half. At the moment (10:49), SINO is trading at $4.41 per share after a gain of $1.18 per share (36.53%) thus far today.
Why The Stock Is Climbing
When looking at the shipping sector as a whole, it becomes clear that SINO isn’t the only stock seeing incredible gains today. In fact, across the entire sector, we’re seeing green. There’s a good reason for that. At the end of the day, the shipping sector has struggled over the past few trading sessions with big declines.
The declines were a correction from a recent rally in shipping due to Trump’s election and gains in the Baltic Dry Index. Now that the correction is over, investors are back to focusing on improving conditions for shipping and remembering that the holiday season is generally a strong one for the industry. As a result, Sino-Global Shipping and many others in the sector are seeing green.
What We’ll Be Watching For Ahead
Moving forward, we’ll be keeping a close eye on news surrounding Donald Trumps plans with regard to trade agreements, the Baltic Dry Index, and holiday shopping stats. All of these could lead to big movement in SINO and the rest of the sector.
Never Miss The News Again
Do you want real-time, actionable news delivered to your inbox? Join the CNA Finance mailing list below!
[Image Courtesy of Wikimedia]