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Teekay (TK) is finally refinancing some bonds that come due in 2020. That may be a little late than some would prefer. But "better late than never!" very much applies here. This stock is so out of favor that Mr. Market threw a temper tantrum on the news:
Source: Seeking Alpha Website April 28, 2019
There is absolutely no rational excuse for the price drop shown above mid-week when the refinancing was announced. The dividend cut should have been expected by the market. Teekay, the parent company unconsolidated, really does not have all that