The Stock is Dry Ships
Dry Ships is not the only the dry-bulk-shipping stock that has rallied like crazy.
Here's Scorpio Bulkers Chart
Here's Diana Containerships stock chart
Here's Eagle Bulk Shipping stock chart
Most of the Shipping Stocks were trading at Depression Level and Trump pro-growth rhetoric has injected fresh life in these stocks. The market thought process: Trump's infrastructure plans would boost demand for commodities and the companies who ship them from place to place. Though what surprises me the most - Shipping demand is a function of Global trade and Trump rhetoric has been anti-trade.
Anyways, dry bulk shipping is an interesting sector to watch. Many market analysts have described this as SHORT SQUEEZE as Bears abandon the Ship. I see no buzz in Indian dry bulk shipping names so far.
Disclaimer – The state of the market notes is Deepak’s perspective on the market. The column is purely for educational purpose. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this publication you agree to make no trade relying in whole or in part on the comments of the writers