Toro Corp. Acquires Castor Maritime Preferred Shares in Strategic Move
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Toro Corp. has acquired 60,000 Series E preferred shares of Castor Maritime for $60 million, enhancing its investment portfolio. The transaction, approved by both companies' boards, aims to strengthen Toro's market position. Spark's analysis rates TORO stock as Neutral, highlighting its strong equity but cautioning against operational challenges and cash flow inefficiencies. The stock shows positive momentum, attracting potential short-term investors, despite an uncertain financial outlook.
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