What Happened?
Shares of boat and marine products retailer MarineMax (NYSE: HZO) jumped 5.8% in the afternoon session after the company announced a change to its board of directors, appointing industry veteran Daniel Schiappa.
Schiappa brought extensive experience in cloud platforms, research and development, and cybersecurity. This move was intended to support MarineMax’s strategic digital initiatives. As part of the change, Chief Financial Officer Michael McLamb stepped down from the board but remained in his executive role as the company's CFO. The appointment of a board member with a strong technology background was viewed as a positive development for the company's future plans.
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What Is The Market Telling Us
MarineMax’s shares are extremely volatile and have had 30 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 16 days ago when the stock gained 3.7% as positive industry news from a major competitor signaled strong consumer demand for boats. Brunswick Corporation, a key player in the marine sector, recorded a big jump in sales at the 2025 Cannes Yachting Festival. The firm reported selling nearly twice as many boats compared to the 2024 event, with its premium brands leading the charge. This strong showing pointed to healthy and sustained consumer appetite in the luxury and performance boating markets. The positive results from an industry peer likely boosted investor confidence in other boat retailers like MarineMax, lifting its shares.
MarineMax is flat since the beginning of the year, and at $27.82 per share, it is trading 19% below its 52-week high of $34.32 from November 2024. Investors who bought $1,000 worth of MarineMax’s shares 5 years ago would now be looking at an investment worth $1,039.
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