Eagle Bulk Shipping Inc (EGLE) Stock Volume Hits Record Peak

Eagle Bulk Shipping Inc (NASDAQ:EGLE) is up more than 50% this morning, and was halted earlier

Aug 26, 2016 at 10:51 AM
facebook twitter linkedin


Unlike this for-profit educator -- which is considered worthless at Piper Jaffray -- shares of Eagle Bulk Shipping Inc (NASDAQ:EGLE) are soaring today. After being halted earlier, the stock was last seen up 58% at $11.30. While EGLE doesn't trade options, today's bull gap is occurring amid a surge in stock volume, with 2.1 million shares traded thus far -- a record high.

Widening the technical scope reveals today's positive price action runs counter to the equity's longer-term trajectory. Similar to fellow shipping stock DryShips Inc. (NASDAQ:DRYS), the shares of EGLE have shed more than 90% over the past year -- and hit a record low of $5.01 on Aug. 16.

Against this backdrop, short sellers have been cashing in their winning bets on Eagle Bulk Shipping Inc (NASDAQ:EGLE). Short interest plunged 93% in the two most recent reporting periods. With just 0.6% of EGLE's float now sold short, it would take just about one session to cover these bearish bets, at the average pace of trading.

Let us help you profit from market volatility. Target big gains in short order with a 30-day trial of Schaeffer's Weekly Volatility Trader!
 

Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 

 

300x250 - Banner 3 - v1