Castor Maritime Inc. Announces The Sale Of The M/V Magic Orion For $17.4M With An Expected Net Gain Of $2M And The Completion Of The Sale Of The M/V Magic Argo
Portfolio Pulse from Happy Mohamed
Castor Maritime Inc. (NASDAQ:CTRM) has sold the M/V Magic Orion for $17.4M with an expected net gain of $2M, to be delivered by Q1 2024. Additionally, the sale of M/V Magic Argo was completed for $15.75M with a net gain of $3M, recorded in Q4 2023.
December 18, 2023 | 2:14 pm
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POSITIVE IMPACT
Castor Maritime Inc. has successfully sold two vessels, M/V Magic Orion and M/V Magic Argo, with expected net gains of $2M and $3M respectively.
The sale of the vessels is likely to be viewed positively by investors as it results in significant net gains for Castor Maritime. The gains from these sales could improve the company's financials in the short term, potentially leading to a positive impact on the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100