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Why Castor Maritime Stock Popped After Earnings

·2 min read
Why Castor Maritime Stock Popped After Earnings

Investors in Castor Maritime (NASDAQ: CTRM) stock are having a very good day Thursday. In 10:10 a.m. EDT trading, shares of the dry bulk shipper jumped a solid 18.5% in response to news that Castor had finally become profitable again -- after four straight quarters of trying and failing. In Castor Maritime's Q1 2021 earnings report, released this morning, the shipper says it earned $1.1 million ($0.02 per share) on quarterly sales of $7 million.