Zim, the world’s tenth largest container shipping line, posted the best quarterly results in its history on Wednesday. It hiked its full-year guidance and now predicts 2022 earnings will be around 20% higher than in 2021. And yet, shares of Zim — by far the largest U.S.-listed shipping company by market cap — fell as much as 8% in the hours after its earnings release.
The record results from Zim (NYSE: ZIM) came on the same day as a 25% plunge in shares of Target (NYSE: TGT) and a 1,165-point...
https://www.freightwaves.com/news/blockbuster-shipping-line-results-collide-with-sinking-sentiment