While investors appear to have responded to Overseas Shipping Group (OSG)’s analysis in last month’s earnings report of a recovering Jones Act market, chief executive Sam Norton is cautioning against drawing “hard conclusions” on short-term developments.
“One can never know what motivates some to sell and others to buy a stock at a given price,” he tells TradeWinds.
“Presumably, those buying see the positive implications of [OSG’s] narrative, while those selling are less convinced that the recovery is a lasting one.
