After posting a stronger performance yesterday, markets have resumed the modest declined that has seemed to characterize this week’s market sentiment. Overall market volume is still slightly positive, suggesting that indexes are being held down by laggards rather than a genuine pullback.
Overall, trading volume this week has been relatively low. Investors are taking some profits and awaiting news on US tax reform. Nevertheless, NewsQuantified has provided our users with dozens of highly profitable stock plays this week, both long and short.
Today’s Top Performer comes from the shipping sector, a frequent contributor to our Top Performer blog of late. As international trade picks up with the heating global economy, there are only so many ships to go around. Many analysts see rising shipping rates for the foreseeable future, and investors seem to be buying into this analysis.
Diana Containerships, a global dry cargo shipping firm, announced their Q3 2017 results this morning. While they lost $8.7 million this quarter, that compares to losses of $126 million in the same quarter last year.
DCIX’s stock has plummeted in recent years as they struggled with a debt-laden balance sheet. With revenues finally recovering and their debt load finally be shed, DCIX may be in a strong position to grow with the shipping market around them.
Investors are betting on a turnaround, piling into Diana on the news. The stock rocketed up nearly 170% on the news before consolidating at its current levels, up around 30%.
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