TOP Ships (TOPS) Stock: Continues Up | Here’s What’s Happening

Top Ships Inc TOPS Stock NewsIn yet another trading session, we’re seeing strong gains in the value of TOP SHIPS Inc (NASDAQ: TOPS). Once again, there has been no news released via SEC filing or press release. Nonetheless, that doesn’t mean that there’s no reason for the gains. Today, we’ll talk about:

  • Why TOPS stock is headed up;
  • what we’re seeing in the market; and
  • what we’ll be watching for ahead.

TOPS Continues Upward – Here’s Why

As mentioned above, for several sessions, TOP Ships has been headed up with no news released. Today, these gains continue. However, no news doesn’t always mean that there’s no reason for the run. In this case, the reason is simple. The gains seem to be correlated with a couple of factors:

DryShips sympathy gains could be part of the reason for the gains in TOPS. Early this morning, DryShips released its earnings, beating expectations on both the top and bottom lines and providing a positive business update. This earnings report seemed to provide a continued lift in the sentiment that we’ve been seeing in the shipping sector as a whole.

Recent political news is also leading to positive changes in opinions with regard to the shipping sector. As mentioned in previous posts, President Trump and his Administration have put an end to the United States Postal Treaty. Due to the end of the treaty, shippers have the ability to earn larger revenues, particularly on shipments to and fron the United States and China. Ultimately, this was a major catalyst for the shipping sector as a whole that led to the beginning of the recent run that seems to be continuing with TOPS and others in the sector today.

What We’re Seeing From The Stock 

While TOP Ships hasn’t released any news, there’s plenty of positive news in the shipping sector as a whole and the stock is clearly becoming a beneficiary. As investor excitement surrounding the shipping industry continues, the stock continues to make a run for the top. Of course, our partners at Trade Ideas were the first to alert us to the gains. Currently (10:45), TOPS is trading at $1.93 per share after a gain of $0.08 per share or 4.23% thus far today.

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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 TOPS and the shipping sector as a whole. As positive earnings reports, positive political changes, and other positive news hits the tape in the sector, this stock among others, like DRYS, DCIX, and more, have the potential to see some serious gains. On a longer term not, it’s also worth mentioning that while the shipping sector is hot right now, it’s also riddled with a history of death spiral financing and moves that go against the better interests of investors. So, be careful in the industry.

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