Shows that nobody that "invests" in NAT actually cares or even knows about the fundamentals of the company or the industry. Just traders hoping for a quick buck based on some nuts comments on TV, most likely.
I care also, but just got home, and just started to digest all the numbers and statements, they beat the estimates on both rev. and eps. and also made a few positive statements Share price did not go down, which is always a good sign. IMO as long as the global economy continues to grow, than NAT should do just fine.
"IMO as long as the global economy continues to grow, than NAT should do just fine."
The world's economy has been growing the whole time NATs share have gone from high 30s to 8 bucks. There is MUCH more to it. Tanker fleet growth. Route shifts. Chinese tanker fleet orders. HH is a cheerleader that makes millions out of this company even when it loses money, as it is now and will all year long.
They aren't doing "fine". They are losing money. They just HALVED the dividend. Many of their ships are getting close to the now much lower scrapping age. They are paying the "dividend" out of cash on hand, so it is really a return of capital. The only things "fine" here are the deals the CEO cuts for himself.