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Why Shares of ZIM Integrated Shipping Services Are Falling Again Today

TheMotleyFool

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Why Shares of ZIM Integrated Shipping Services Are Falling Again Today: https://g.foolcdn.com/editorial/images/733615/workers-inspect-cargo-containers.jpg

After the company disappointed investors with a weaker-than-expected first-quarter 2023 earnings report and offered an inauspicious outlook on 2023, the stock price of ZIM Integrated Shipping Services (NYSE: ZIM) plunged more than 16% yesterday.

And it doesn't look as if the sell-off will be ending today. Investors continue to click the sell button in response to yesterday's announcement, and analysts' bearish takes on the international cargo shipping stock are providing additional catalysts for the decline.

As of 10:05 a.m. ET, shares of ZIM have dropped 7.2%, paring back their earlier decline of 11.8%.

Source Fool.com

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