d’Amico International Shipping stocks continues falling
Managing Director Marco Fiori's recently announced farewell, the company's stock price showed 40% drop in a week
After managing director Marco Fiori departure's announcement, d’Amico International Shipping stock price dropped by 40% showing negative record-breaking figures; going down to 0,098 on Tuesday October 30th (before the announcement stock price stood at 0,159 euro).
Worried by forthcoming consequences following the departure of the manager who'd been joining the shipping company controlled by cousins Paolo and Cesare d'Amico for a very long time, investors suddenly sold their stocks, while the disappointing market trend fostered the disaster.
For the time being Marco Fiori's new professional commitment is still unknown; rumours are he might be joining Premuda (currently controlled by Pillarstone Italy fund whose former Managing Director Stefano Rosina was recently laid-off and replaced by Jens Martin Jensen).
While announcing his departure, Fiore mentioned 'personal reasons', nevertheless his new commitment won't be disclosed until next January: his experience in d’Amico International Shipping will end on December 31st.
In the meantime the company announced they will issue Q3 and 2018 first nine months financial results on November 8th.
1Q 2018 showed 20 million dollars loss (tripling former 6.2 million red figures recorded in 2017), while base time charter revenues reached 125.6 million (versus 128.7 million of 2017), Ebitda stopped at 10.1 million (versus 24.7 recorded in 2017 first semester).