Robin Energy (RBNE) stock rocketed higher on Friday despite a lack of news from the deep sea freight transportation company. There are no new press releases or filings with the Securities and Exchange Commission (SEC) that explain why RBNE stock is up today.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Instead, it looks like conflict overseas is behind the surge in RBNE stock. An attack on Iran by Israel has caused chaos among oil stocks. Robin Energy’s transportation services largely cover the shipping of crude oil. It would seem retail traders have noticed this and are betting on the stock alongside the latest market disruption.
RBNE stock was up 219.38% in pre-market trading on Friday. This came alongside massive trading, with more than 19 million shares exchanged as of this writing. That’s a huge leap over its three-month daily average trading volume of about 41,000 shares.