Shipping Stocks That Soared After the Election Have Now Tanked

By Julie Verhage (Bloomberg) -- Almost as quickly as it happened, it was gone. Shortly after President Donald Trump was elected on Nov. 8, the stock prices of a slew of shipping companies soared by more than 1000 percent on hopes that commodity prices would rise and U.S. manufacturing would rebound, spurring a surge in shipments of everything from iron ore to computer … [Read more...]

Shipping Shares Drop Further After Seanergy Maritime Offer

By Caroline Valetkevitch NEW YORK, Nov 18 (Reuters) - Shares of many shipping companies dropped in volatile trading, retracing more of their post-U.S. election gains after Seanergy Maritime Holdings on Friday became the latest shipper this week to announce a direct share offer pricing. Seanergy shares were down 28.2 percent at $2.80 after the $3.6 million offering, while … [Read more...]

The Great Trump Shipping Stock Rally May Have Just Ended

US-listed shipping stocks ended their head-scratching post-election rally on Thursday with a major correction that saw some stocks fall more than 50% since Wednesday's close. NASDAQ-listed DryShips Inc. (NASDAQ: DRYS), which at one point had surged more than 1,500% since last Tuesday's election, ended the day at $11 per share, down 85% since Tuesday's $73 close. The trading … [Read more...]