ZIM Shipping Stock Plunges: Is This a Buying Opportunity? [Yahoo! Finance]
ZIM Integrated Shipping Services Ltd. Ordinary Shares (ZIM)
Company Research
Source: Yahoo! Finance
But it's arguably the most volatile in the sector (and recently plunged), with its business model leaving it vulnerable to fluctuations in freight rates. There's a lot to unpack, both upsides and downsides, and for now, I'm neutral on the stock. I simply can't put my money behind it when there are so many variables at play. ZIM Hit by Citi Downgrade ZIM stock fell nearly 20% on June 6 after Citi ( NYSE:C downgraded the shipping company from Neutral to Sell, adjusting the price target to $13.00 from the previous $11.60. The bank said ZIM was overexposed to spot prices and noted that the company's contract coverage of trans-Pacific routes was below average. According to Citi, just 35% of ZIM's trans-Pacific trade volumes are under contract. This, the analysts highlighted, is notably less than the industry average of around 65%. ZIM's trans-Pacific trade represents 40% of total volumes. The pullback in the share price came after a very successful month for ZIM. The stock soared f
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ZIM
News
- ZIM Integrated Shipping Services (ZIM) Laps the Stock Market: Here's Why [Yahoo! Finance]Yahoo! Finance
- Should You Think About Buying ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) Now? [Yahoo! Finance]Yahoo! Finance
- ZIM Integrated: Buy The Dip On Strong Near-Term Prospects [Seeking Alpha]Seeking Alpha
- Why Zim Integrated Shipping Stock Is Down Today [Yahoo! Finance]Yahoo! Finance
- ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) was downgraded by analysts at Citigroup Inc. from a "neutral" rating to a "sell" rating. They now have a $13.00 price target on the stock.MarketBeat
ZIM
Earnings
- 5/21/24 - Miss
ZIM
Sec Filings
- 6/5/24 - Form 144
- 5/28/24 - Form 6-K
- 5/21/24 - Form 6-K
- ZIM's page on the SEC website