Scorpio Tankers Inc. Announces Purchase Of Call Options On An Aggregate Of 555,600 Common Shares By The President Of The Company For Total Consideration Of $7M
Portfolio Pulse from Benzinga Newsdesk
Scorpio Tankers Inc. (STNG) announced that its President, Robert Bugbee, has invested $7M in call options for 555,600 common shares, with a strike price of $60, expiring in September 2024.
February 15, 2024 | 9:58 pm
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POSITIVE IMPACT
The President of Scorpio Tankers, Robert Bugbee, has shown confidence in the company by purchasing $7M in call options for 555,600 shares, with a strike price of $60, expiring in September 2024.
The purchase of call options by the President of Scorpio Tankers indicates a strong belief in the future performance of the company. This insider trading activity could be perceived positively by the market, potentially leading to a short-term increase in the stock price. The significant investment and the choice of a $60 strike price, which is a bullish signal, further underscore the confidence in the company's prospects.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100