Just when you thought it couldn't get any crazier...
Nordic American Tankers (NAT) made a mockery of previous trading records on Tuesday when investors exchanged 110m shares of the stock worth roughly $807m.
Yet the bulls didn't hold full sway this time, as the stock increased only $0.14, or 2%, to $7.34, edging up its market capitalisation to $1.08bn.
While the favourite shipping stock of retail investors in the US demolished all previous records for shares volume and dollars traded, Jefferies lead shipping analyst Randy Giveans said the day's events showed why NAT is a stock to trade but not to hold.
