Market Overview

5 Dry Bulk Shipping Stocks Moving In Sympathy With Diana Containerships Outsized Move

5 Dry Bulk Shipping Stocks Moving In Sympathy With Diana Containerships Outsized Move

On a split adjusted basis, shares of Diana Containerships Inc (NASDAQ: DCIX) have lost 99.8 percent since the start of 2017. But the stock soared higher by more than 100 percent on Monday, repeating Friday's triple-digit percentage gain on no relevant news.

Diana Containerships' stock at one point on Friday traded higher by more than 500 percent and traded just shy of the $20 mark just one day after completing a one-for-seven reverse stock split. It could be possible that the absence of liquidity resulted in bulls buying up the stock with impunity.

After trading below the $10 mark during Monday's pre-market session, Diana Containerships' stock opened at $15.82 and quickly surged above Friday's high. As of 12:30 p.m. ET the stock hit an intraday high of $28.48..

Investors and traders are seeing a near identical repeat of last year's inexpiable surge in DryShips Inc. (NASDAQ: DRYS). However, in DryShips' case, the stock's gains were in the thousands of percentage points as shares skyrocketed from $5 per share to north of $100 per share in just a few short days on no notable news.

Here is a summary of how other dry bulk shipping stocks were trading on Monday.

  • TOP SHIPS Inc (NASDAQ: TOPS): up 111.11 percent at $1.52.
  • Globus Maritime Ltd (NASDAQ: GLBS): up 25.26 percent at $1.29.
  • Euroseas Ltd. (NASDAQ: ESEA): up 12.88 percent at $2.16.
  • Diana Shipping Inc. (NYSE: DSX): up 12.18 percent at $4.42.
  • DryShips: up 5.44 percent at $4.63.

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