Scorpio Tankers is down by a lot today because all the oil tankers are down plus Scorpio Bulkers sold $43 million shares of Scorpio Tankers. I am not going to speculate why. I will let others get wild with that. Here are three clips from Scorpio Bulkers explaining the reasons.
You have two choices: 1. You can believe it. 2. You can not believe it.
For me, this does not change anything. If I believe the reasons, then there is nothing to worry about. If I don’t believe the reasons, then it is even better because buying when the bears are selling, bulls are giving up, and management not believing, sounds pretty good to me.