What will happen to CTRM stock after the split?
Jun 06, 2021 · What happened Castor Maritime (NASDAQ: CTRM) stock began May costing just under $0.50 per share. By the time the month was done, each Castor Maritime share was selling for $3.05 per share. A...
How many shares of Castor (CTRM) stock are out there?
5 hours ago · What happened The stock of international shipping company Castor Maritime (NASDAQ: CTRM) has been soaring this week. As the market heads into the final hours of trading for the week, shares of...
Should you buy Castor maritime (CTRM) stock on Robinhood?
May 24, 2021 · What happened Shares of Castor Maritime ( CTRM -2.17% ) plunged 14.2% on Monday after the shipping company said it would conduct a 1-for-10 reverse stock split. So what The split will take effect...
Is Castor maritime (CTRM) a great penny stock to buy?
May 28, 2021 · What happened Three days ago, dry bulk shipper Castor Maritime ( NASDAQ:CTRM) dodged a bullet when declines on the Baltic Dry Index (BDI) pulled down shares of other dry bulk shipping stocks but...
Will CTRM stock go up?
Given the current short-term trend, the stock is expected to rise 41.34% during the next 3 months and, with a 90% probability hold a price between $2.36 and $3.34 at the end of this 3-month period.
Who bought CTRM?
Largest shareholders include Renaissance Technologies Llc, Citadel Advisors Llc, Citadel Advisors Llc, Susquehanna International Group, Llp, Sabby Management, Llc, Susquehanna International Group, Llp, Cresset Asset Management, LLC, Jane Street Group, Llc, LPL Financial LLC, and Simplex Trading, Llc.
Did CTRM do a stock split?
CTRM's share count has increased exponentially in the past year, growing by more than 500%. However, with its reverse stock split, the numbers of shares have effectively reduced from around 899.6 million to 90 million. The company has established precedence of continuous dilution in funding its fleet expansion.Jun 16, 2021
How many shares of CTRM are there?
Share StatisticsAvg Vol (3 month) 32.28MShares Outstanding 594.61MImplied Shares Outstanding 6N/AFloat 894.5M% Held by Insiders 10.12%7 more rows
Who owns Castor Maritime?
Petros PanagiotidisDescription Castor Maritime Inc. The company was founded by Petros Panagiotidis on September 12, 2017 and is headquartered in Limassol, Cyprus.
Is CTRM going to reverse split?
The Reverse Split Castor announced that it will be doing a 10-for-1 reverse split on Friday, May 28. This means that someone holding, say, 1,000 shares at 40 cents each would own 100 shares at $4 each after the split is effected.May 27, 2021
Did Castor maritime do a reverse split?
Announces Reverse Stock Split to be Effective May 28, 2021. Castor Maritime Inc., a diversified global shipping company, announces that its board of directors (the “Board”) has determined to effect a 1-for-10 reverse stock split of the Company's common shares.May 24, 2021
What does castor maritime do?
Castor Maritime, Inc. engages in the provision of shipping transportation services through its ownership of dry bulk vessels.
What is reverse split?
What is the most popular penny stock in 2021?
Reverse stock splits tend to be a short seller’s best friend . For one thing, many brokerages place additional limits or outright forbid shorting certain penny stocks. Getting shares up to a higher price makes it easier for short sellers to bet against a company. Additionally, a reverse split tends to disarm short squeezes.
The shipping specialist announced a reverse stock split
Castor Maritime (NASDAQ: CTRM) has been one of the most popular penny stocks of 2021. That’s a bit of a surprise, as Castor is an obscure Cyprus-based shipping company. That’s not usually the sort of thing that rises to the top of the trading radar.
What happened
Joe honed his investing skills as an analyst for Stock Advisor, Supernova, and Fool One. He battle-tested his investment philosophy and strategies as portfolio manager of Tier 1, a market-crushing Motley Fool real-money portfolio that delivered 24.58% annualized returns during its existence.
So what
Shares of Castor Maritime ( NASDAQ:CTRM) plunged 14.2% on Monday after the shipping company said it would conduct a 1-for-10 reverse stock split.
Now what
The split will take effect on May 28. After that date, shareholders will own one share for every 10 shares they currently own. This will reduce the company's share count to roughly 90 million, down from 899.6 million today.
Declines on the Baltic Dry Index are starting to look like a trend -- down
Reverse splits are typically met with derision from shareholders, while traditional stock splits are often met with cheers. People tend to prefer owning more shares, rather than fewer. However, neither of these two types of transactions changes the percentage of the underlying business that shareholders own.
What happened
I like things that go "boom." Sonic or otherwise, that means I tend to gravitate towards defense and aerospace stocks. But to tell the truth, over the course of a dozen years writing for The Motley Fool, I have covered -- and continue to cover -- everything from retailers to consumer goods stocks, and from tech to banks to insurers as well.
So what
Three days ago, dry bulk shipper Castor Maritime ( NASDAQ:CTRM) dodged a bullet when declines on the Baltic Dry Index (BDI) pulled down shares of other dry bulk shipping stocks but failed to pull down Castor Maritime along with them.
Now what
The BDI tracks the rates that shipping companies can charge for hauling dry bulk goods (coal, iron pellets, grain, and the like). As such, it is often viewed by investors as a predictor of where dry bulk profits are heading.
How many vessels does Castor Maritime have?
That looks like bad news for all dry bulk shipping stocks, but for Castor Maritime more than the others. Consider that, thanks to the prices reflected on the rising BDI, most dry bulk shippers have been earning bumper profits this year -- but Castor Maritime has not.
Is Castor Maritime a penny?
Castor Maritime has been on an acquisition spree. The company has announced the acquisition of several vessels. It has a fleet of 26 vessels on a fully delivered basis, according to the most recent update, which is up four-fold from what it had at the end of 2020.
Is shipping down in May?
Castor Maritime is a penny name that tends to be riskier and more volatile. The company’s acquisition efforts are bearing fruits and it turned profitable in the first quarter. CTRM could be a good way to play the current uptrend in the global economy.
Is Castor Maritime stock up in 2021?
Shipping rates have come down after peaking in May. The fall in shipping rates is negative for the entire shipping industry including Castor Maritime. The rates still look high enough for shipping companies to make a decent profit in the near future.
The Reverse Split
Prepare For Short Selling
- Let’s be blunt. Reverse stock splits tend to be a short seller’s best friend. For one thing, many brokerages place additional limits or outright forbid shorting certain penny stocks. Getting shares up to a higher price makes it easier for short sellers to bet against a company. Additionally, a reverse split tends to disarm short squeezes. It’s not hard for folks to get excited about the poss…
CTRM Stock Isn’T Nearly as Overvalued as Before
- While the reverse split will hit Castor in the short-term, it’s not all bad news. The company’s fundamentals are actually improving. I’ve been extremely negativeon CTRM stock before. In recent times, Castor had a market capitalization of as much as half a billion dollars while owning just a few vessels. This made little sense. Castor, on a per ship basis, was valued at way more th…
The Verdict on Castor Maritime
- Castor Maritime is one unusual situation. Management has taken what was a tiny business and is building it up into something significant. That’s not all bad. However, Castor is funding itself almost entirely with capital from newly issued stock. This has created a virtually endless supply of new shares of CTRM stock on the open market. Prior to the...