|castor maritime stock reddit||1.59||0.2||2194||9|
Castor Maritime had its 15 minutes of fame during the Reddit/WallStreetBets short squeeze phenomenon back in January. It made sense at the time. Castor is a tiny, fast-growing company with heavy short interest and a share price quoted in pennies. It checked the right boxes for a quick momentum trade.Should you buy Castor (CTRM) stock?
For better or worse, CTRM stock is a hot commodity with this trading community. If only the actual company had more of a fundamental case to support the excitement. Castor just reported its quarterly results this week. For the quarter, revenues grew to $4.4 million versus $2.8 million for the same period last year. Sounds good in a vacuum.Is Castor maritime picking up more vessels enough to meet shareholder needs?
In any case, a shareholder that owned 1% of Castor Maritime in 2019 now owns less than 0.01% of the company thanks to its unprecedented dilution. In light of this, the company picking up a few more vessels isn’t remotely enough to make up for the tsunami of new shares that have flooded the market.Is Castor a good stock to buy on Robinhood?
It was one of the top held stocks on Robinhood, and was widely-discussed on Reddit. For example, Castor has its own subreddit, r/CTRM, which has more than 16,000 members as of this writing. The r/CTRM Lounge mega-thread alone has more than 66,000 comments.