Diamonds and Dogs
4/2/13
Nordic American Tankers Limited (NAT)Nordic American Tankers is sinking today, down 10.62% at $9.85. The company which leases shipping tankers saw its shares trade in the red after a secondary common stock offering. Nordic management announced that it would sell an additional 9.75 million shares in a secondary offering. The company priced these shares at $9.60 a share a significant discount to Monday's closing price of $11.02. Nordic said it would use the secondary offering to expand its fleet and for general corporate purposes. Shares were able to stay above the $9.60 secondary price and the stocks 52-week low of $8.15.
Atlantic Power Corporation (AT)
Atlantic Power got a spark today, up 7.08% at $4.99. The power generation and infrastructure company saw its shares jump after news that the company adopted an "advance notice policy." The policy provides the facilitating of orderly and efficient shareholder meetings; ensuring that all shareholders receive adequate notice of director nominations and sufficient information with respect to all nominees; and allows shareholders to register an informed vote. The advance notice policy is geared toward bettering the company's interaction with its shareholders, and seems to have caught investors' attention today. Atlantic Power bounced off its 52-week low of $4.56.
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