Rubico shares surge 10.39% premarket after announcing $120.8 million contracted revenue backlog from time charter extensions.

Rubico Inc. surged 10.39% in premarket trading following its announcement of time charter extensions and a contracted revenue backlog of $120.8 million. The news, disclosed on November 25, signals strong near-term cash flow visibility for the shipping and energy infrastructure company, likely boosting investor confidence. While an earlier Simply Wall St analysis highlighted Rubico’s elevated ROE (19%) and debt-to-equity ratio (2.23), the recent operational update provided a more direct catalyst for the premarket rally. The spin-off from Top Ships Inc. in July 2023 remains a foundational event but does not directly correlate with the current price movement. The focus on secured revenue and extended charters aligns with the stock’s upward trajectory, overshadowing broader concerns about leverage.