Here is the link.
My notes:
- The stock has over 350% in 2021 so far;
- Jan. 28, 90% high pre-market trading after soaring 36% on Wed
- Completion of the direct share offering to institutional investors
- 127 million shares of its common stock to institutional investor for $0.19 a share; warrants $0.19 each
The Castor Maritime Inc (NASDAQ: CTRM) shares have been in focus among investors since the start of the year. The stock has managed to record gains of 350% in 2021 so far and the rally continued on Wednesday.
This morning, the stock jumped by as high as 90% during pre-market trading after soaring 36% on Wednesday. One of the major triggers behind the rally this week is linked to the completion of the direct share offering to institutional investors.
The company sold 127 million shares of its common stock to institutional investors for $0.19 a share. It also includes warrants that were priced at $0.19 each.
The company also revealed that it raised gross proceeds of as much as $26 million from the offering and hence, it is no surprise that the Castor Maritime stock has garnered much interest among investors. Considering the gains made by the stock and the recent events, it could be a good idea for investors to keep an eye on it.
On Reddit, Facebook, and Twitter, a group of investors launched CTRM buying campaigns in order to increase the price of shares along with call options — gives buyers the right to buy the stock at a set price until a certain date. And short sellers — investors who borrow stock with a bet that the price will fall — have been buying the shares back soon in order to reduce more losses. Plus institutional investors are also buying shares to hedge against call options being bought.
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