Is Further Upside Left in the Stock?
ZIM Integrated Shipping Services (ZIM) shares ended the last trading session 14.9% higher at $17.81. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock’s 2.8% loss over the past four weeks.
This uptick is attributed to the news that CEO Eli Glickman is collaborating with shipping magnate Rami Unger to potentially acquire all of ZIM’s shares. The transaction, on materialization, could result in ZIM going private and merging with one of Unger’s companies.
This container shipping company is expected to post quarterly earnings of $1.50 per share in its upcoming report, which represents a year-over-year change of -51.3%. Revenues are expected…
