Here's The Fly at iBankCoin:
Trump Withdraws from 144 Year Old Postal Treaty — Shippers Explode
This is a bit unfair, as I made some purchases this morning in Exodus and only now get to tell you about them. One of them is up 65% from my purchase price and I don’t want you chasing in after me. So take these buys with a grain of salt....MORE (the caveat alone is worth the cost of admission)
I bought two tranches of shipper stocks, each 5% of total portfolio.
First tranche.Here is the news, Trump pulling out of 144 year old postal treaty that gave China super low shipping rates. Those days are, essentially, over. I believe this isn’t being digested by the market yet and higher prices are just around the bend.
ESEA ($2.10)
EGLE ($5.28)
EDRY ($12.43)
The second tranche.
TOPS ($2.62)
PXS ($1.54)
ANW ($1.29)
President Trump plans to withdraw from a 144-year-old postal treaty that has allowed Chinese companies to ship small packages to the United States at a steeply discounted rate, undercutting American competitors and flooding the market with cheap consumer goods.
The withdrawal, announced by the White House on Wednesday, is part of a concerted push by Mr. Trump to counter China’s dominance and punish it for what the administration says is a pattern of unfair trade practices. The White House, in a statement, said “sufficient progress has not been made on reforming terms” of the postal treaty and that it would begin the withdrawal process while seeking to “negotiate bilateral and multilateral agreements that resolve the problems.”...
When I say small, I mean small. One of the names, EuroDry is up 16% leaving its market cap at $26 million.
