INSW - Imperial Petroleum - Consider Shorting This Latest Meme Stock Frenzy
- Imperial Petroleum, a small tanker operator recently spun-off by StealthGas has become the latest meme stock.
- Violent momentum rally causes common shares to run by more than 200% from recent lows.
- Rally has likely resulted in the exercise of 9.6 million warrants at a price of $1.25 per common share. Updating net asset value ("NAV") estimates.
- Company has stated its intent to raise additional equity to renew and expand its fleet.
- Speculative investors with the ability to stomach the common shares' volatility should consider a short position as the company might use the rally to raise more equity. In addition, momentum traders are likely to leave soon for assumed greener pastures.
For further details see:
Imperial Petroleum - Consider Shorting This Latest Meme Stock Frenzy