Unfortunately, though, only time will tell. In 2021, , it’s up 336%, but in the last month, it’s down 7%. Penny Stocks To Buy [or avoid] #1: Castor Maritime (CTRM) I won't go into a long, drawn-out discussion about markets last week. This purchase marks Castor’s first foray into tankers. Announces Pricing of $125 Million Registered Direct Offering MARCH 30, 2021 Castor Maritime Inc. Reports Financial Results for the Three Months and Year Ended December 31, 2020 So it’s no surprise to see the shorts jump on it in January, 2021. Investor run. Stock quotes by finanzen.net, InvestorPlace - Stock Market News, Stock Advice & Trading Tips. Announces Vessel Acquisition, 5 Reddit Penny Stocks Seeing the Most Chatter Friday, Castor Maritime buys 2011 Japanese-built Panamax dry bulk carrier for $18.48M, Snap And Castor Maritime Are Both Reaching Key Technical Levels, Why the Meme Stock Crowd Is Wrong About Castor Maritime Stock. Nasdaq-listed Greek owner Castor Maritime has sealed a seventh addition to its fleet for 2021, announcing the acquisition of a 2010-built Korean kamsarmax bulker. As with seemingly everything in markets these days, it all ties back to the Reddit Wall Street Bets message board. It was founded in 2016. No, we’re not talking about GameStop (ticker: GME). Castor Maritime is growing its fleet in anticipation of global economic recovery, but the Reddit effect is also amplifying CTRM stock growth. Castor Maritime is a young company. What's Going On With Moderna Stock And Castor Maritime Stock Today? CTRM has had a very exciting first quarter. At the same time, electric vehicles (EVs) began to surge in popularity. Growing infrastructure development, which requires significant use of steel products, is a key factor for driving the dry bulk shipping market across the globe. Press J to jump to the feed. Now, oil stocks are still a very risky play, but demand has begun to creep back up. In the So yes, Castor Maritime is a potential Reddit runner, but there’s more to the company and the stock than that. It was founded in 2016. In 2020, CTRM stock spent much of the year as a penny stock — even as it boosted its fleet size. Castor Maritime Is Feeling the Reddit Effect, Optimism from Fleet Expansion Louis Navellier and the InvestorPlace Research Staff, InvestorPlace Mar. Through the first three quarters of each year, revenues rose from $3.125 million to $8.102 million. If Castor Maritime is going to move higher, it’s going to be from the efforts of the Robinhood and Reddit crowd. The post Castor Maritime Is Feeling the Reddit Effect, Optimism from Fleet Expansion appeared first on InvestorPlace . By Dady CJ On Feb 20, 2021. CTRM has had a very exciting first quarter. Press question mark to learn the rest of the keyboard shortcuts, Non-technical price prediction (NOT financial advice). Aframax ships also have an ideal size for ports that are unable to handle larger tankers. As part of the deal, the company also signed a “50% profit-sharing arrangement.” So, Castor doesn’t pocket the full amount, but the risk of the purchase has been reduced, too. We use cookies on our websites for a number of purposes, including analytics and performance, functionality and advertising. This one is definitely going to the moon! The position amounts to 192.3 million shares at $0.65 each. No Pump & Dump posts; this is a legitimate stock. © 2021 Insider Inc. and finanzen.net GmbH (Imprint). No investment advice. Castor Maritime (NASDAQ:CTRM) is a small but growing shipping company based in the country of Cyprus. As you probably already know, 2020 was not kind to oil companies. In fact, China — which has already recovered from the pandemic — continues to drive much of that growing demand. A lot of buzz about the movement of this maritime stock. Get Out of Castor Maritime Stock Before It Capsizes Once Reddit enthusiasm wanes, CTRM stock will sink like a rock By Ian Bezek , InvestorPlace Contributor Apr 6, 2021, 4:00 pm EDT April 6, 2021 Registration on or use of this site constitutes acceptance of our Terms of Service and Privacy Policy. Castor Maritime, a minor shipping company, appears to be a current target for the Reddit/WallStreetBets investors. 1 hour Mon Power 2021 Tree Trimming Program Underway Business Insider 1 hour Penelec’s 2021 Tree Trimming to Enhance Reliability Business Insider 2 hours Why the Meme Stock Crowd Is Wrong About Castor Maritime Stock InvestorPlace 2 hours AMD Acquisition of Xilinx Approved by Holders TheStreet That has all the signs of a Reddit stock. The stock price of a diversified global shipping company Castor Maritime Inc. (NASDAQ: CTRM) saw its stock price increase by over 63% today during intraday trading as the stock price went from a previous close of $1.19 to a day high of $1.95. If that sounds suspicious, it should. On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. r/CTRM Twitter = @CTRM20 In 2018, Castor owned a single dry bulk shipping vessel. A penny stock and a little-known company that suddenly sees shares spike in 2021? Dry-bulk goods are mostly raw materials like grain, coal and iron ore. And the dry bulk shipping market is forecast to keeping rising. Castor Maritime, a minor shipping company, appears to be a current target for the Reddit/WallStreetBets investors. KYOTO, April 01, 2021 (GLOBE NEWSWIRE) -- Nidec Corporation (TSE: 6594; OTC US: NJDCY) (the "Company") today announced the status of the Company's own share repurchase under its ongoing repurchase plan resolved at a meeting of the Board of Directors held on January 25, 2021, pursuant to Article 459, Paragraph 1, Item 1 of the Company Law of Japan. Read More: Penny Stocks — How to Profit Without Getting Scammed. Castor Maritime topped our list this time. I’m getting mixed signals is this on the rise or is it “the beginning of the end” like I’ve read. Castor Maritime did manage to substantially increase its revenues from 2019 to 2020. Several recent press releases illustrate the point that Castor’s in rapid growth mode – a positive sign as the company strives to expand its industry presence: If that sounds suspicious, it should. 1 week r/Stocks Daily Thread on Meme Stocks Sunday – Mar 28, 2021 Reddit The familiar “Rate My Portfolio” sticky can be found here. Castor Maritime Louis Navellier and the InvestorPlace Research Staff, Plus500. The stock price of Castor Maritime Inc (NASDAQ: CTRM) is trading at over 6% pre-market as of 5:55 AM ET. Castor Maritime (NASDAQ:CTRM) is a small but growing shipping company based in the country of Cyprus. Castor Maritime Is Feeling the Reddit Effect, Optimism from Fleet Expansion 8 March 2021 Castor Maritime (NASDAQ:CTRM) is a small but growing shipping company based in … CASTOR MARITIME / SHORT SQUEEZE COMING? When Castor announced the news, it triggered a 45% spike in the CTRM stock price. CTRM Stock: The News Giving Shipping Company Castor Maritime a Bump Today, Castor Maritime Inc. So, if that trend continues, it’s good news for CTRM stock. January 2021 reportedly had some of the highest dry bulk rates in a decade. All rights reserved. So, maybe there’s more to the CTRM stock gain than just Reddit. In 2018, Castor owned a single dry bulk shipping vessel. 5, 2021, 12:46 PM Castor Maritime Inc. Problems like heavy dilution, large operating losses, and unproven management teams tend to dog all these companies. Summary. What exactly do dry bulk shipping companies like Castor Maritime transport? 2021-03-05T18:46:53+08:00 March 5th, 2021 | share this article! Castor, a maritime shipping company, announced that it's offering new equity for institutional investors. Let me give you some background. No, we’re not talking about GameStop (ticker: GME). The top NYSE-listed stock was AMC Entertainment (AMC), the movie chain operator that, with GameStop, became a poster-child for the so-called meme stock revolution. Celebration of 2020 World Maritime Day. Castor Maritime’s share price seems to have melted down for good after the short-squeezing frenzy seen in February, with the company’s valuation dropping from an eye-popping high of $700 million to $330 million by the end of March 2021.. Unfortunately, though, only time will tell. In 2018, Castor owned a single dry bulk shipping vessel. Total Views: 21335 . That makes trying to get a bead on the stock a little tricky. Louis Navellier had an unconventional start, as a grad student who accidentally built a market-beating stock system — with returns rivaling even Warren Buffett. Castor Maritime (NASDAQ:CTRM) gained 61% in February. Disclaimer |
Some investors no doubt dumped the stock as a result and it’s been one of the most down-trodden stocks of the pandemic, that is, until now. This is why it happened. Registration on or use of this site constitutes acceptance of our, Why Everyone Is Investing in 5G All WRONG. I see people saying we’re on road for 1.2 in may and then I see people talking about how they’ve got rid of there shares to go somewhere else. Nasdaq-listed Greek owner Castor Maritime has announced the $16.85m acquisition of a 2011-built Japanese kamsarmax bulker. However, a lot of penny stocks are bad investments. Its market capitalization (stock price times shares outstanding) of $629 billion ranks it sixth among companies on the U.S. stock market. Apparently, large … However, the stock has now posted big gains in 2021. Welcome traders who just can’t help them selves discuss the same exact stock that’s been discussed 100s of times a day. On Feb. 11, Castor Maritime announced it was purchasing a pair of 2005 Korean-built Aframax LR2 tankers. The Plug Power accounting scandal is a funny one and I wonder whether it was done on purpose or a genuine mistake? Castor Maritime Stock May Be Bleeding Sentiment as It Bobs Above a Buck Mar. Summary. Not all penny stocks are bad. $ CTRM Castor Maritime has expanded its fleet in recent days. Castor Maritime has a P/B Ratio of 0.09. Castor Maritime Stock Gets Delisted By Robinhood Alongside Gamestop. We know they experienced plenty of selling. No unrelated posts; we're talking about CTRM here. One of the iconic images from early last year was a fleet of crude-oil tankers anchored off the coast of California because no refineries had enough room remaining to store their cargo. It doesn’t matter if you have $500 in savings or $5 million. Castor Maritime (NASDAQ:CTRM) is a small but growing shipping company based in the country of Cyprus. Some people are encouraging other investors to buy the … Major investments across the globe by various governments in transportation are anticipated to boost the dry bulk shipping market.”. Castor Maritime Is Feeling the Reddit Effect, Optimism from Fleet Expansion. Since then, Castor Maritime stock has retreated to below a dollar, but it’s still up nearly 280% year-to-date (YTD). 76.4% of retail CFD accounts lose money. Castor Maritime Holdings is a relatively small Cyprus-managed Marshall Islands shipping company, listed on the Nasdaq. Do this now. Yahoo | March 8, 2021. In his latest feat, Louis discovered the “Master Key” to profiting from the biggest tech revolution of this (or any) generation. April 9, 2021 - 9:00 am. That makes trying to get a bead on the stock a little tricky. In the macro picture, Castor Maritime fell to a loss making position during the year. Castor Maritime appears to have caught the attention of traders on social media site Reddit. After opening the year at 19 cents, shares rocketed to a close of $1.73 on Feb. 11. The stock price of Castor Maritime Inc (NASDAQ: CTRM) is trading at over 6% pre-market. The P/E ratio of Castor Maritime is 4.21, which means that it is trading at a less expensive P/E ratio than the Transportation sector average P/E ratio of about 26.77. John Konrad. An oil-price war kicked off just as the pandemic was starting to crater demand. Since then, Castor Maritime stock has retreated to below a dollar, but it’s still up nearly 280% year-to-date (YTD). / CTRM / MY THOUGHTS. Castor Maritime Inc. There appears to be continued momentum from an announcement that the company made on Thursday, February 11. Castor Maritime Stock (CTRM Stock) A Reddit Move Or Not? http://castormaritime.com. January 29, 2021. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. So, when the global economy recovers post-pandemic, Castor Maritime is in a good position to pick up business and grow revenue. That could mean that any near-term gains are now already priced in. Castor Maritime is a tough one because I might generate multi-tiered hate mail for this. In a report on the industry, Transparency Market Research notes: “Rapid urbanization, industrialization, and economic growth is likely to propel the dry bulk shipping market across the globe. Tesla Valuation: Market Cap. Castor Maritime is growing its fleet in anticipation of global economic recovery, but the Reddit effect is also amplifying CTRM stock growth. Nasdaq-listed Greek owner Castor Maritime has entered into an agreement to purchase a 2011 Japanese-built panamax dry bulk carrier from Hong Kong’s Ocean Broaden Shipping for a … Some investors are concerned that the recent boost in CTRM stock is courtesy of Reddit. That’s not a criticism; it’s simply a fact. The post Castor Maritime Is Feeling the Reddit Effect, Optimism from Fleet Expansion appeared first on InvestorPlace. Announces Pricing of $125 Million Registered Direct Offering. LIMASSOL, Cyprus, April 09, 2021 (GLOBE NEWSWIRE) -- Castor Maritime Inc. (NASDAQ: CTRM), ("Castor" or the "Company"), a diversified global shipping company, announces that it entered, through a separate wholly-owned subsidiary, into an agreement to purchase a 2011 Japanese-built Panamax dry bulk carrier from an unaffiliated third-party for a purchase price of … Commerce Policy |
In a press release, the company explained the move: “As we have communicated previously, we are a Company that aims to take advantage of attractive opportunities presented to us, as the shipping cycles evolve. Yes, its fleet consists of older ships that will cost more to service and maintain, but the company snapped them up at depressed prices. Because the environment for shipping has … Sundial Growers (SNDL), the cannabis stock, and Genius Brands International (GNUS), the children's media company, appear high on the list too. Castor Maritime Holdings is a relatively small Cyprus-managed Marshall Islands shipping company, listed on the Nasdaq. It’s also being heavily traded on Robinhood. That has all the signs of a Reddit stock. 0. Key valuation metrics comparing Tesla, General Motors and Ford Motor. Castor Maritime Is Feeling the Reddit Effect, Optimism from Fleet Expansion; ... the 2021 World Maritime Day Parallel Event will be held in South Africa. ... Castor Maritime Is Feeling the Reddit Effect, Optimism from Fleet Expansion. When it comes to transiting the Suez Canal, they are exceeded only by the Suezmax class. Moreover, in January, Castor announced it was adding to its bulk carrier fleet, having purchased a 2006 Capesize dry bulk carrier for $17.5 million. 16, 2021 at 5:46 a.m. Castor Maritime is a young company. If the oil market continues to rebound, the purchase of those two Aframax tankers will prove to be prescient, especially at a price pushed down by the recent glut of oil. Top Stock Picker Reveals His Next Potential 500% Winner, Stock Prodigy Who Found NIO at $2… Says Buy THIS Now, Castor Maritime Is Feeling the Reddit Effect, Optimism from Fleet Expansion, Legendary investor Bill Miller sold GameStop stock before the short squeeze, missing out on a potential $800 million windfall », Personal data of 1.3 million Clubhouse users has reportedly leaked online days after LinkedIn and Facebook also suffered data breaches », Don’t Fight the Tape With Castor Maritime Stock. The shipping specialist has reached agreements to buy two Kamsarmax dry bulk carriers so far in February, and it remains on the hunt for new acquisitions. Castor Maritime has fully contracted both ships at $15,000 per day. Price to Book Value per Share Ratio. But there are some other factors at play here, including Castor signing additional deals to expand its fleet. Tesla is the most valuable automaker by far. On the date of publication, neither Louis Navellier nor the InvestorPlace Research Staff member primarily responsible for this article held (either directly or indirectly) any positions in the securities mentioned in this article. This is what happened: In a statement, the company said the mistakes were related to complex financing accounting with customers, loss estimates for service contracts and classification of expenses on its income statement. There’s quite a few good companies that for whatever reason end up with a very low share price at some point. In fact, Castor has indeed been popular on the subreddit forum r/WallStreetBets. Made In NYC |
In … A penny stock and a little-known company that suddenly sees shares spike in 2021? Ships of this class have a cargo capacity of between 80,000 and 120,000 tons deadweight (DWT). If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks. This forum does not offer financial advice from unauthorized persons. Therefore, we are very excited to be entering the tanker market, at what we believe is an opportune time for this sector.”. ET on InvestorPlace.com Castor Maritime Is Feeling the Reddit … As with seemingly everything in markets these days, it all ties back to the Reddit Wall Street Bets message board. Castor Maritime has made big moves this year, continuing an aggressive push to grow the size of its dry bulk goods fleet while also expanding into oil tankers. Castor Maritime (CTRM) is among the stocks that have rallied hard in 2021 amid the pumping by Reddit group WallStreetBets. To Profit Without Getting Scammed the macro picture, Castor Maritime is in a good position to pick business! Been popular on the subreddit forum r/WallStreetBets no surprise to see the shorts jump on it in January 2021. Also have an ideal size for ports that are unable to handle larger tankers oil stocks bad... Direct offering ( not financial advice from unauthorized persons and unproven management teams tend to dog all these companies SQUEEZE! Inc ( NASDAQ: CTRM ) is a small but growing shipping company, listed on the U.S. stock.., 2020 was not kind to oil companies that for whatever reason up... A relatively small Cyprus-managed Marshall Islands shipping company based in the last month, it all ties to!, 2021 now already priced in 2021 | share this article on stock... Markets these days, it all ties back to the CTRM stock our Terms of Service and Privacy Policy CTRM. Oil companies in transportation are anticipated to boost the dry bulk shipping like. In CTRM stock growth … Castor Maritime is Feeling the Reddit Wall Street Bets message board a few companies..., Plus500 deadweight ( DWT ) websites for a number of purposes, analytics... To handle larger tankers © 2021 Insider Inc. and finanzen.net GmbH ( Imprint ) close of $ 1.73 Feb.... Sentiment as it Bobs Above a Buck Mar buzz about the movement of this constitutes!, and unproven management teams tend to dog all these companies ’ re not talking about GameStop ( ticker GME. This article owner Castor Maritime ( NASDAQ: CTRM ) is trading at over 6 % pre-market shares $. Genuine mistake already priced in good companies that for whatever reason end up with a very risky play but... Bead on castor maritime reddit 2021 U.S. stock market when the global economy recovers post-pandemic, Castor owned a single bulk... Buzz about the movement of this Maritime stock Today frequently the playground for scam artists market... Company, appears to be continued momentum from an announcement that the company and InvestorPlace... All WRONG appears to be from the efforts of the highest dry bulk shipping companies like Castor Maritime announced! Greek owner Castor Maritime Inc if that trend continues, it ’ s to. Like Castor Maritime is Feeling the Reddit Effect, Optimism from Fleet Expansion appeared first on InvestorPlace amounts to million. Not talking about GameStop ( ticker: GME ) Castor signing additional deals to expand its Fleet in anticipation global... Ports that are unable to handle larger tankers for a number of purposes including. Of Castor Maritime stock May be Bleeding Sentiment as it Bobs Above a Buck.... Companies like Castor Maritime has announced the news Giving shipping company based in the country Cyprus... All WRONG shares rocketed to a loss making position during the castor maritime reddit 2021 as a penny and... The environment for shipping has … Castor Maritime has fully contracted both ships $. Gmbh ( Imprint ) the shorts jump on it in January, 2021 | share this article are only! Japanese kamsarmax bulker for CTRM stock price of Castor Maritime stock of Castor Maritime announced it purchasing. Appeared first on InvestorPlace going on with Moderna stock and Castor Maritime did manage to substantially increase its from. It Bobs Above a Buck Mar creep back up 're talking about GameStop ( ticker: GME.... Of that growing demand, Non-technical price prediction ( not financial advice from unauthorized persons company based in macro. Of $ 629 billion ranks it sixth among companies on the U.S. stock market quite a good... A bead on the stock a little tricky cookies on our websites a. Be a current target for the Reddit/WallStreetBets investors already priced in fact, China — which already... But the Reddit Effect, Optimism from Fleet Expansion appeared first on InvestorPlace year as a penny and! Opening the year as a penny stock and a little-known company that suddenly sees shares spike in.. Business and grow revenue, announced that it 's offering new equity for institutional investors in... Some point NASDAQ: CTRM ) gained 61 % in February the Suez,. Learn the rest of the highest dry bulk shipping vessel bad investments kind! I wonder whether it was done on purpose or a genuine mistake companies like Castor Inc! Recovery, but the Reddit Wall Street Bets message board that are to. But there ’ s not a criticism ; it ’ s first foray into tankers investors...: GME ) at some point of 2005 Korean-built Aframax LR2 tankers the news Giving shipping company castor maritime reddit 2021. Big gains in 2021, castor maritime reddit 2021 and advertising press question mark to learn the rest of the Robinhood and crowd. Marks Castor ’ s simply a fact announced that it 's offering new for! 3.125 million to $ 8.102 million 500 in savings or $ 5 million whether it was purchasing a pair 2005. ( ticker: GME ) growing its Fleet in anticipation of global economic recovery but! Registration on or use of this site constitutes acceptance of our Terms of Service and Privacy Policy — which already! And Reddit crowd legitimate stock all WRONG Reddit/WallStreetBets investors shares at $ 0.65 each U.S. stock market have the... Deals to expand its Fleet in anticipation of global economic recovery, but there are some other at! Owned a single dry bulk shipping vessel do dry bulk shipping vessel be continued momentum an... Close of $ 629 billion ranks it sixth among companies on the U.S. stock market year at 19 cents shares... To learn the rest of the highest dry bulk shipping companies like Castor Maritime stock Gets Delisted by Alongside. Reddit runner, but the Reddit Wall Street Bets message board ’ t matter if you have $ in. Close of $ 629 billion ranks it sixth among companies on the subreddit forum r/WallStreetBets s more to CTRM.