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Why Shipping Stocks Soared This Week

Lou Whiteman, The Motley Fool
Updated ·2-min read
Why Shipping Stocks Soared This Week

Shares of Triton International (NYSE: TRTN), which got a big-premium buyout offer, were up 33% for the week as of Thursday midday, according to data provided by S&P Global Market Intelligence. Shares of other shipping companies, including Zim Integrated Shipping Services (NYSE: ZIM) and Textainer Group Holdings (NYSE: TGH), are going along for the ride, up 16% and 13%, respectively. The pandemic created supply and demand imbalances that helped boost the price for transporting goods, but recently, fears about the economy have caused these stocks to underwhelm.

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