ZIM Shipping Stock Forecast, Earnings Triggers a Buy
ZIM Integrated Shipping Services .(ZIM) MarketBeat·2024-06-03 19:52
Key PointsZIM Integrated Shipping Services shares are up 128% year-to-date (YTD) as shipping rates have skyrocketed 3X since November 2023.The Shanghai Container Freight Index surged from 993 on November 24, 2023, to 3,044 by May 31, 2024.ZIM turned profitable in Q1 2024 and raised guidance as freight rates doubled during the quarter, causing a buy the news rather than sell the news reaction in the stock accelerated by the 17% short interest.5 stocks we like better than ZIM Integrated Shipping ServicesGloba ...