22% Yielding TORM: A Very Buyable Crash (Rating Upgrade)
TRMDTORM plc(TRMD) Seeking Alpha·2024-09-17 05:17

Oil Tanker HeliRy In the two weeks ended September 10, TORM plc (NASDAQ:TRMD) crashed approximately 14% to 32.26,alevelnotseeninyears.TORMplchistoricalprices(SeekingAlphaQuant)Theculpritbehindthecrashappearstohavebeenfallingoilprices.OnTuesday,theWTIcrudepricedippedbelow32.26, a level not seen in years. TORM plc historical prices (Seeking Alpha Quant) The culprit behind the crash appears to have been falling oil prices. On Tuesday, the WTI crude price dipped below 70 and took most related equities along with it. By the close of the trading day, Brent Crude was below 70perbarrel,whileWTIwasnear70 per barrel, while WTI was near 65. These price levels were even lower than those seen in late 20 ...