Angelica Ballesteros
2 min read
In This Article:
We recently published a list of LOOK: These 10 Stocks Just Stole The Show. In this article, we are going to take a look at where ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) stands against other best-performing stocks of Friday.
ZIM Integrated snapped a four-day losing streak on Friday, jumping by 5.67 percent to close at $17.51 apiece as investor sentiment was buoyed by positive developments from the US-China trade negotiations.
ZIM Integrated Shipping Services Ltd. (ZIM), one of the 20 largest shipping companies globally, stands to benefit from the trade negotiation progress on expectations that it would spur global trade activities anew.
A fleet of vessels docking at a busy harbor, signaling the company's presence in global marine shipping.
Based on its 2024 annual report, a significant chunk of its operations originates from China, “and therefore depends on the level of imports and exports to and from China.”
Despite a challenging first quarter for ZIM Integrated Shipping Services Ltd. (NYSE:ZIM), the company still achieved a 227-percent jump in its net income attributable to shareholders of $295.3 million from the $90.3 million registered in the same period last year.
Total revenues increased by 28.8 percent to $2.01 billion from the $1.56 billion registered in the same period last year, mainly driven by the increase in freight rates and carried volume.
While we acknowledge the potential of ZIM as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. This article is originally published at Insider Monkey.
