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Why Castor Maritime Stock Surged Today

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Why Castor Maritime Stock Surged Today
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Shares of Castor Maritime (NASDAQ: CTRM) jumped 12.5% on Monday after the shipping transportation company announced the acquisition of two vessels. Castor Maritime agreed to acquire two Panamax dry bulk carriers from undisclosed third parties for prices of $19.06 million and $21 million. One of the vessels -- a 2013 Japanese-built dry bulk carrier -- will come with a time-charter contract attached.