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Why Castor Maritime Stock Popped This Morning, Then Dropped

·2 min read
Why Castor Maritime Stock Popped This Morning, Then Dropped

Shares of dry bulk shipping stock Castor Maritime (NASDAQ: CTRM) rushed out of the gate this morning, running ahead more than 9% before stumbling, retreating, and giving up most of its gains. As of 10:15 a.m. EDT, Castor Maritime is hanging onto a 3% gain -- but why did it rise in the first place? The answer, in three short letters, is the BDI.