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Teekay Tankers (TNK) trades down in the post session after announcing a 15M share secondary...

Teekay Tankers (TNK) trades down in the post session after announcing a 15M share secondary offering. Proceeds are expected to go to repay a portion of its outstanding debt under its revolving credit facility. Shares -9.7% AH.
Comments (5)
  • Mattster
    , contributor
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    What a bunch of jerks these guys are just announcing this now creaming their loyal shareholders while creating a nice dip for scalpers to buy for div date two weeks from now. Its no wonder so few people actually invest in their business.
    7 Feb 2012, 08:06 PM Reply Like
  • 2Tailfins
    , contributor
    Comment (1) | Send Message
     
    I hear you-- I got in at $3.60- I was lucky to have a trailing stop in and sold at $4.58 so now if I want that dividend I have to buy in again at ? on 2/15 + commissions... NIce...
    8 Feb 2012, 02:00 AM Reply Like
  • TruffelPig
    , contributor
    Comments (4040) | Send Message
     
    I am pretty pissed I must say......I am one of those long-term holders.
    8 Feb 2012, 07:57 AM Reply Like
  • captiankirkoptions
    , contributor
    Comments (181) | Send Message
     
    There should be no immediate need for this offering they have cash flow from operations to pay dividends, they have no long term debt obligations for a few years. Management seems to have their head up their ass selling at this low level. Hard to imagine a dumber move out of nowhere and totally uncalled for.
    8 Feb 2012, 03:57 PM Reply Like
  • TruffelPig
    , contributor
    Comments (4040) | Send Message
     
    Correct! They have not punished their share holders enough it seems. They had to do it when the stock actually showed some signs of life.......man. I should have never invested a dime in this incompetent company.
    8 Feb 2012, 05:21 PM Reply Like
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