If it's a weekday, then shares of Eagle Bulk Shipping Inc. (NASDAQ:EGLE) must be going up -- as much as 37% earlier this morning, and still up 23.7% as of 11:45 a.m. EST Monday.
You've heard this story before, so we won't belabor the point. First and foremost, when Donald Trump assumed the mantle of President-elect last week, that sparked an immediate stock market rally for anyone (and everyone) who might potentially benefit from a growing American economy.
Meanwhile, the fact that Mr. Trump has also promised to clamp down on international trade that he deems unprofitable to America -- and that Eagle Bulk Shipping's business is international trade -- doesn't appear to be worrying investors one bit. Instead, investors are focusing on the dramatic rise of the Baltic Dry Index (BDI) as an indication of how Eagle Bulk stock might profit no matter what trade policies the Donald might pursue.
So far, that has been a smart way to look at things. From Election Eve to close of trading last week, Eagle Bulk stock gained 46%. Today, it looks likely to tack on another 20-odd points in a single day. And so long as the BDI keeps climbing (it's up again today, to 1,045 points, and up 15% since Election Eve), Eagle Bulk Shipping stock can be expected to come along for the ride.
Fool contributor Rich Smith does not own shares of, nor is he short, any company named above. You can find him on Motley Fool CAPS, publicly pontificating under the handle TMFDitty, where he currently ranks No. 314 out of more than 75,000 rated members.
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