Shipping stocks were mostly higher in premarket trade Friday, as they recovered from the sharp pullback suffered in the previous session.
Shipping stocks on track for big bounces Shipping stocks were mostly higher in premarket trade Friday, as they recovered from the sharp pullback suffered in the previous session. Diana Containerships Inc.’s stock soared 14% ahead of the open, after tumbling 69% on Thursday. That decline, which was the biggest one-day percentage selloff since it went public in January 2011, followed a five-fold gain over the previous four session. DryShips Inc. shares rallied 13% after plunging 85% on Thursday. Elsewhere, Globus Maritime Ltd.’s stock gained 5.2%, Seanergy Maritime Holdings Corp. shares rose 7.7% and TOP Ships Inc. shares tacked on 0.7%. Among the few shipping stock that rose Thursday, Rand Logistics Inc. shed 8% premarket and Global Ship Lease Inc.’s dropped 5.6%. Futures for the S&P 500 were little changed early Friday, after rising 0.5% on Thursday.
