Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of shipper Danaos
So what: Danaos started lower early this morning, when more than 20,000 shares traded hands at the open, and it appeared that this would be a high-volume day for the stock. But since then, the market has gone dormant, and just a few hundred shares have traded hands in the last hour.
Now what: Press releases and Securities and Exchange Commission filings were quiet today, so there doesn't seem to be anything solid driving this move. Chalk it up to a drop driven by a big trade early this morning, but I'm not seeing anything else moving shares. If you're looking to get into Danaos, this could be a good buying opportunity, but I don't see a reason to panic one way or the other today.
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