Matson (NYSE: MATX) and
(Chart: Koyfin)
The ‘retail horde' theory
Why has the broader shipping-stock space revved up in February when rates for most non-container segments have not?
One theory — particularly in the wake of the
GameStop (NYSE: GME) stock spike in late January — is that the "retail horde" has alighted on shipping stocks. It happened before, in April 2020, when traders on retail platform Robinhood ran up the stock of
Nordic American Tankers (NYSE: NAT). If it's happening again, this month's price gains could be fleeting.
Evidence for this theory: Micro-cap shipping stocks favored by day traders are performing exceptionally well. Robinhood restricted trading in various stocks amid the GameStop frenzy. One of them was