What's Up With ZIM Stock?

ZIM Integrated Shipping Services Ltd. ZIM shares traded higher on Thursday. The stock brushed off losses made earlier in the week to continue its recent head-turning uptrend.

What To Know: Zim stock experienced volatility over the past month, fueled in part by the impact of Houthi attacks in the Red Sea on shipping stocks and the increase in container prices.

Shares ultimately were able to soar over 93%, reaching a high not seen since the summer. While the stock struggled earlier in the week after falling from Friday's strength, shares staged a comeback on Thursday, rising by over 8.5%.

It is worth noting that the company announced on Tuesday an agreement with Hoopo Systems Ltd. entailing the extensive implementation of state-of-the-art tracking devices in its fleet of dry-van containers.

Additionally, the stock has had its price target adjusted several times over the past few weeks, ranging from $5 to $10.50.

ZIM Price Action: Shares of ZIM were up 6.44% at $13.72 at the close of the market Thursday, according to Benzinga Pro.

Related Link: Why Telecommunications Stocks Verizon And AT&T Turned Lower Today

Photo: Alexander Kliem from Pixabay