Actionable Stock Market Trading Newswire. Built for Traders, by Traders.
All news is property of their respective owners.

Why ZIM Integrated Shipping Shares Are Diving Today

BofA analyst Muneeba Kayani downgraded ZIM Integrated Shipping Services Ltd (NYSE:ZIM) to Underperform from Buy and lowered the price target to $40 (a…
byAkanksha Bakshi
July 1, 2022
1 minute read
Total
0
Shares
0
0
0
0
0
0
  • BofA analyst Muneeba Kayani downgraded ZIM Integrated Shipping Services Ltd (NYSE:ZIM) to Underperform from Buy and lowered the price target to $40 (a downside of 8%) from $79.
  • The analyst revealed concerns over weaker U.S. demand.
  • Kayani states that large U.S. retailers have signaled to weaken spending on goods and excess inventories, and this, along with congestion unwind at U.S. ports, could result in a notable correction in ocean spot rates.
  • Price Action: ZIM shares are trading lower by 7.69% at $43.59 on the last check Friday.
 
Total
0
Shares
Share 0
Tweet 0
Share 0
Share 0
Share 0
Share 0
Related Posts
Read More

Canopy Is ‘Cautiously Optimistic’ On Cannabis Rescheduling Following Major Step Toward Entry Into US THC Market

By Jelena Martinovic
April 15, 11:15 AM
Canopy Growth's shareholders gave a green light to the creation of a new class of exchangeable shares of the company during their special meeting held on Friday, April 12, as recommended earlier by Institutional Shareholder Services (ISS).At the meeting, shareholders passed a special resolution authorizing an amendment to the company's articles of incorporation, as amended, to create and authorize the issuance of an unlimited number of a new class of non-voting and non-participating exchangeable shares in the capital of Canopy Growth.A total of 32,250,578 common shares of Canopy, representing 35.40% of the issued and outstanding shares, were voted in connection with the meeting by the company's shareholders and proxyholders.he move enables the acceleration of Canopy Growth's entry into the U.S. THC market, which is forecasted to hit roughly $50 billion in 2026, the company said on Monday in a press release.

ACRHF