Ups and downs at Zim as market forces blow hot and cold

Photo: © Magiorestock

Stocks in New York-listed Zim have been on the rise for the past couple of days, with financial experts reporting “a wave of bargain buying”.

Zim Integrated Shipping Services listed on the New York Stock Exchange in January 2021, as freight rates were still rising. By March 2022, the stock had peaked at $88.62.

But what goes up, as they say, must come down and by 5 April this year, shares in the carrier were trading at, perhaps, a more realistic level of ...