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Nordic American Tankers Limited Message Board

  • dean4614 dean4614 Sep 12, 2013 2:39 PM Flag

    another drop, geesh come on here... we were just at 8.79 a week ago why the drop so quick

    shorts piling on? why so weak past few days.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • The stock was rebounding nicely in the past week until today. A lot of high beta names (steel stocks etc) got hit hard on profit taking. No news today that I can see and the spread between WTI and Brent has narrowed which if anything is a positive. I also saw that CPLP extended charters on two chemical products tankers at slightly higher day rates which seems like another positive data point.

      Sentiment: Hold

      • 1 Reply to john89930
      • The fundamentals have gotten a lot worse over the last month, but the stock has been rising. Per Intertanko, Suezmax rates peaked at $21K/day in August, they are now about $7,500/day. Investors have been paying attention to Syria (which was never going to matter anyway) rather than the deteriorating fundamentals. Now, the focus is shifting back, and the tanker market looks a lot worse than it did a month ago. Product tanker rates have nothing to do with NAT...it's a completely different market.

 
NAT
9.05+0.04(+0.44%)11:15 AMEDT

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