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tops stock news

tops stock news: TOP Ships Inc. is an international ship-owning company. TOPS have 8 splits in our TOPS split history database. TOP Ships has had a relatively strong month. The first split for TOPS took place on March 20, 2008. Matters discussed in this press release may constitute forward-looking statements. News of a coming vessel delivery led to more excitement on Tuesday. The positive movement continued on Tuesday with the announcement of a coming new vessel. Since July 23, 2018, the stock has seen about 7% gains with peaks as high as nearly 22% gains. TOP Ships has a history of serial dilution.

 

Warning!

tops stock news: Recently, TOPS found its way toward the top in the market after making an announcement that seemed to align its interests with investor interests.

TOP Ships said that it was in discussion with lenders surrounding the funds needed to purchase other vessels and continue operations. This news caused the largest spike in value. TOP SHIPS Inc. has been an interesting stock to watch as of late. TOP Ships is a company that has made its living through the dilution of shares.

On July 24th, TOP Ships announced that it had terminated an equity distribution agreement with Maxim Group surrounding an at-the-market equity offering program.

With a dramatic run toward the top recently, the stock is taking a bit of a dive today. TOPS climbed more than 20% on the day of the release.

Considering the company’s history of capital raises and pistols’ history of making himself richer at the cost of investor returns, this proved to be overwhelmingly positive news. If there is one industry that I would personally stay away from at the moment, it’s Greek dry bulk shippers. Of course, this includes TOPS.

However, things aren’t always as they seem. So, I would still strongly suggest being careful here. As a result of the financial struggles that these companies have faced, they have made many moves that have not been in the best interest of shareholders. In the past, we have warned investors about what we generally see out of TOPS.

 

 

What TOPS shipping does???

tops stock news: As investors, one of the first lessons that we learn is that the news moves the market. Top Ships is a dry bulk shipper headquartered in Marousi, Greece.

Currently, the company has a 14 vessel fleet of modern, fuel-efficient “ECO” tankers. The company’s strategy is to grow this fleet via acquisitions of newly built vessels, resale vessels, or secondhand vessels.

In the case of TOPS, while the first bit of news surrounding the commencement of the time charter agreement was positive, the news surrounding dilution trumped the positivity, leading to fears and sending the stock screaming for the bottom.

In particular, we’re interested in following the story surrounding the time charter and seeing how badly the dilutive agreement mentioned above weighs on investors. The stock will run for the top on good news for a short while, only to be ravaged by offerings that dilute shares and lead to massive declines. Well, that warning has come to fruition today.

 

What happened?

tops stock news: Shares of ship owner Top Ships Inc. jumped as much as 30.9% Monday after a reverse split impacted trading. At 1:45 p.m. EDT, shares were still up 13.7% on the day.

The company also said a 1-for-10 stock split would take place before trading today, which is why shares jumped versus their closing price on Friday. After starting the day off in the green, these stocks have continued to soar higher.

Currently, ESEA, TOPS, and SHIP, are trading at $4.08, $5.22, and $4.95 respectively. Athens-based tanker owner and operator TOP Ships has taken delivery of its new building product/chemical tanker M/T Eco Palm Springs. The 50% owned vessel was handed over to the company on May 23, 2018. Separately, TOP Ships announced that the sea trials of its 50 pct.

 

tops stock news

 

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