Why Teekay Tankers Stock Dropped Today
Rumors the Strait of Hormuz might reopen in a week are driving tanker stocks lower.
Overview
Teekay Tankers (NYSE: TNK) stock soared in September. Shares of the maritime services provider, which gets 87% of its revenue from its tanker business, gained as much as 14% in September through Friday's close. Teekay is giving back some of those gains today -- down 2.9% through 10:55 a.m. ET.
But why was Teekay stock up in the first place?
Details
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.