On Friday, Shares of Yelp Inc (NYSE:YELP), added 0.61 % and closed at $36.29 in the last trading session. The last trading range of the stock ranges between $35.21 and $36.50. Yelp Inc. operates a platform that connects people with local businesses mainly in the United States. Its platform covers various local business categories, counting restaurants, shopping, beauty and fitness, arts, entertainment and events, home and local services, health, nightlife, travel and hotel, auto, and others categories. The company provides free and paid business listing services to businesses of various sizes, in addition to facilitates businesses to deliver targeted search advertising to large local audiences through its Website and mobile app. It also provides other services, counting Yelp platform, which allows consumers to transact directly on Yelp; Yelp deals that allow local business owners to create promotional discounted deals for their products and services; and gift certificates products for local business owners to sell full-price gift certificates directly to customers.
Nordic American Tanker Ltd (NYSE:NAT), dropped -2.83% and closed at $8.94 in the last trading session. The last trading range of the stock ranges between $8.83 and $9.18. The company’s Market capitalization is $774.76 Million with the total Outstanding Shares of 89.18 million. We do not expect that the result of the US presidential election will have a negative impact on NAT. As of the date of this report, 2016 has been a very good year for NAT. The third quarter came out solidly higher than the cash breakeven level. The fourth quarter of 2016 has so far a good performance. About 60% of the available days in 4Q2016 have been fixed significantly higher than the average daily rates for 3Q2016 of $16,700 per vessel – for the NAT fleet on short term contracts and longer term employment contracts.
NAT is not in the dry cargo or container sectors which have challenges. We are engaged in transportation of crude oil only.
The success of the recent placement of $120m, in which 70% was subscribed by institutional shareholders, was because of our proven business model. Armed with $120m from the placement, NAT has contracted to increase its fleet from 30 to 33 vessels, enhancing its potential for both higher earnings and dividends.