Why Star Bulk Carriers Stock Just Popped 15%

Rich Smith, The Motley Fool
·2-min read
Why Star Bulk Carriers Stock Just Popped 15%

Star Bulk Carriers (NASDAQ: SBLK) stock is riding high Monday, up 15.3% as of 10:30 a.m. EST. The dry bulk shipper, which carries commodity cargoes such as iron ore, coal, and grain from country to country, appears to be benefiting from a recent uptick in shipping rates on the Baltic Dry Index. This is good news for Star Bulk, which reported its Q3 earnings on Nov. 17 -- just as the index was plumbing its latest low.