NEW YORK, NY / ACCESSWIRE / October 23, 2018 / President Trump withdrawing from the Universal Postal Union sent shares of shipping companies skyrocketing on Monday as this could mean more revenues in shipping for them. Both Top Ships and Euroseas were two big winners with Euroseas even hitting a new 52-week high on the news.
RDI Initiates Coverage on:
Top Ships Inc.
Top Ships Inc. shares were jumping on Monday for gains of about 55% on much higher trading volume than usual. The international provider of oil, petroleum products
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Euroseas Ltd. shares were up nearly 82% on Monday with skyrocket volume of almost 22 million shares. The stock flew to a new high of $3.85 and saw an additional 7% in gains in after-hours trading. The colossal move came after the Trump Administration announced that the U.S. is planning to leave the Universal Postal Union, a treaty that has been in place for nearly 150 years. The treaty aims to keep the prices of shipping between countries down who
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