When the market topped last fall so did many market leaders at the time, including several from the red-hot shipping industry. TBS International (TBSI) dropped 75%. Dryships (DRYS) plummeted 63%. Genco (GNK) shed 57%. Diana Shipping (DSX) dropped 55%. Eagle Bulk Shipping (EGLE), 50%.
The industry has been booming as the declining dollar has made American exports more attractive and these stocks have come roaring back in the recent market uptrend, building and breaking out of steep bases.
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