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