TNK Magnet Pull
TNK is currently trading at a significant discount to its NAV. A 1:1 share price with Scorpio Tankers was quite transparent on the way down in May - Nov. I am expecting a rapid catch back up as TNK gets added back to the Russell.
Looking for a Test of $26 as it breaks the pivot of $16.30 on volume. This will be fundamentally supported by accumulation from Russell rebalancing and subsequent OPEC meeting July 1st when they are expected to increase production further spurring a spike up in tanker stocks.
Looking for a Test of $26 as it breaks the pivot of $16.30 on volume. This will be fundamentally supported by accumulation from Russell rebalancing and subsequent OPEC meeting July 1st when they are expected to increase production further spurring a spike up in tanker stocks.
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