Why Costamare Stock Just Popped 13.5%
Shares of containership operator Costamare (NYSE: CMRE) are surging higher in Tuesday afternoon trading, up 13.5% as of 2:30 p.m. EDT. The stock appears to be benefiting from a press release this morning, in which Costamare boasted that is now more or less safe from any bankruptcy concerns through 2024.
Was Costamare ever really in any danger of bankruptcy? Probably not. But seeing as the company is heading into a global recession with some $1.6 billion in debt and less than $200 million in cash, investors may still have been nervous.
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Source Fool.com
