The Nasdaq-quoted bulker owner took the title of ‘Worst Performer’ on the TradeWinds Shipping Index as its stock plummeted 10.22% to $7.15 in the hour leading up to the close.
In a note to clients Jonathan Chappell of Evercore Partners blamed the dip on a reduction in Knightsbridge’s quarterly dividend, as opposed to a third-quarter loss that was lower than forecasters were expecting.
“We
