Globus Maritime Ltd (Nasdaq:GLBS)

Globus Maritime is having an incredibly strong day in the market today. Since the opening bell, the stock has been climbing further and further into the green. Below, we’ll talk about what we’re seeing from the stock, why, and what we should be watching with regard to GLBS ahead.

What We’re Seeing From GLBS

As mentioned above, Globus Maritime is having an incredibly strong day in the market. As soon as the opening bell rang, the stock quickly climbed into the green. Throughout the day, the gains have only grown to become larger. Currently (12:18), GLBS is trading at $7.43 per share after a gain of $3.86 per share or 108.12% thus far today.

Why The Stock Is Climbing

As soon as I noticed that GLBS was headed upward, I had to do some digging to see exactly why the gains were happening. It didn’t take long to dig up the news. The truth is that this isn’t the only stock in the shipping sector that’s climbing.

At the end of the day, shipping has been struggling through a correction. After big gains on the Baltic Dry Index increase and Trump presidential win, the stocks all corrected. Ultimately, they found themselves very close to where they were before the rally started. This was the case for Globus Maritime and many others in the sector.

Nonetheless, these stocks should be up, at least a bit. The reality is that conditions are improving for the shipping sector as a whole. As a result, GLBS and many other stocks in the sector are experiencing gains that the correction took away.

What We Should Be Watching Ahead

At the end of the day, we’re going to be looking for volatility. There’s tons of good news in the shipping sector at the moment. And that will likely lead to strong movement for GLBS. However, there is still quite a bit of uncertainty as well. So, the large gains will likely be followed by sharp corrections. Keep an eye on the Baltic Dry Index and moves made by Donald Trump for an idea of where the stock is headed ahead.

What Do You Think?