Matson's shares had a volatile start today, opening with its biggest drop of the year.
The Matthew Cox-led Pacific boxship player's stock fell 4.7% to $37.39 within 15 minutes of the opening bell before rebounding about five minutes later to $38.46.
It then dropped back down to $37.69 in the next 45 minutes before zig-zagging its way up to $38.32 by noon.
The New York-listed stock with a $1.65bn market cap has not fallen so much in one day, however, since 4 December when it dropped 5.5% to $37.75.
Matson analyst Jack Atkins said the drop may have been due to a "poorly executed" 5,000-unit block trade on a slow trading day but their quick rebound shows much ado about nothing.
"If it were down on heavy trading, that would be something," he said.
Less than 30,000 shares have traded so far today.
The company plans to hold its annual general meeting tomorrow and post first-quarter earnings on 8 May.
Seaport Global Securities Kevin Sterling said Matson's fall at the open could have been partly due to United Parcel Service stock falling the most in four years today.
"The whole transportation sector is under significant pressure," he said.
"I don't think it has anything to do with Matson."
