2024-03-13 14:05:19 ET
Summary
- ZIM Integrated Shipping stock dropped double digits following the release of fourth quarter earnings.
- Do not buy ZIM stock during this dip: ZIM Integrated is suffering from a steep drop in freight rates since the pandemic.
- Investors often overlook lease liabilities in the calculation of net debt.
- I expect leverage to rise rapidly moving forward as the company appears structurally unprofitable - I'm downgrading ZIM stock to sell.
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ZIM Integrated Stock: Downgrading To Sell On Rapidly Rising Leverage