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NOTIFICATION OF MANAGERS’ AND CLOSELY RELATED PARTIES’ TRANSACTIONS WITH DAMPSKIBSSELSKABET NORDEN A/S’ SHARES IN CONNECTION WITH SHARE BUY-BACK PROGRAM

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Dampskibsselskabet NORDEN A/S
Updated
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ANNOUNCEMENT NO. 24 - 29 JANUARY 2021

In connection with the announced share buy-back program in Dampskibsselskabet NORDEN A/S, A/S Motortramp continuously sells shares pro rata and the market is to be informed accordingly – see the attached file and announcement no. 90/2020.

Kind regards,

Dampskibsselskabet NORDEN A/S

Martin Badsted

CFO

For further information:

Martin Badsted, CFO, tel.: +45 3315 0451

Attachments


Originally published

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Conspiracy theories erupted online.The question is whether such critics will dig into the industry’s inner workings, where pressure mounted on Robinhood and other firms to limit certain trades. That would put a rare spotlight on arcane parts of the market designed to prevent catastrophe, such as the Depository Trust & Clearing Corp.Not ‘Nefarious’One key consideration for brokers, particularly around high-flying and volatile stocks like GameStop, is in the money they must put up with the DTCC while waiting a few days for stock transactions to settle. Those outlays, which behave like margin in a brokerage account, can create a cash crunch on volatile days, say when GameStop falls from $483 to $112 like it did at one point during Thursday’s session.“It’s not really Robinhood doing nefarious stuff,” said Bloomberg Intelligence analyst Larry Tabb. “It’s the DTCC saying ‘This stuff is just too risky. 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Interactive Brokers Group Inc. and Morgan Stanley’s E*Trade took similar action Thursday.Thomas Peterffy, the billionaire chairman of Greenwich, Connecticut-based Interactive Brokers, told Bloomberg TV the restrictions were prompted by concerns “about the integrity of the marketplace and the system.”E*Trade stressed that its measures were a highly unusual. “We take actions like this seriously, and only initiate them in rare circumstances,” said spokesman Thayer Fox, adding that he expected normal trading to resume Friday.Robinhood said after markets closed that it plans to allow “limited buys” to resume in affected securities. It also tried to assuage customer concerns with an email that evening: “This was a temporary decision made to best continue serving you, and was not an easy one to make.”Credit LinesThe firm has tapped at least several hundred million dollars from its bank credit lines, a person with knowledge of the situation said. 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The stock has an average price target of $10.25, which suggests room for ~124% growth from the current trading price of $4.59. (See KIN stock analysis on TipRanks) To find good ideas for penny stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

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The most prominent is GameStop, the beleaguered brick-and-mortar retailer that’s soared more than 1,700% this month, but other targets include AMC Entertainment Holdings Inc. and Bed Bath & Beyond Inc.The pain is likely spreading across the hedge fund industry, with rumors swirling among traders of heavy losses at multiple firms. The Goldman Sachs Hedge Industry VIP ETF, which tracks hedge funds’ most-popular stocks, tumbled 4.3% on Wednesday for its worst day since September.Fund managers covered their money-losing short sales while trimming bullish bets for a fourth straight session Tuesday. Over that stretch, their total outflows from the market reached the highest level since October 2014, data compiled by Goldman’s prime-brokerage unit show.D1, which was founded in 2018 and had about $20 billion in assets at the start of the year, is buffeted to some degree from the attacks because private companies account for roughly a third of its holdings, and the firm has been reducing its exposure, according to people familiar with the matter. The fund is closed to new investments and has no plans to open for additional capital, one of the people said, asking not to be named because such decisions are confidential.D1’s loss, described by people briefed on the situation, contrasts with a 60% gain for Sundheim, 43, during last year’s pandemic turmoil.Melvin on Monday took an unheard-of cash infusion from its peers, receiving $2 billion from Griffin, his partners and the hedge funds he runs at Citadel, and $750 million from his former boss, Cohen.“The social media posts about Melvin Capital going bankrupt are categorically false,” a representative said. “Melvin Capital is focused on generating high-quality, risk-adjusted returns for our investors, and we are appreciative of their support.”Until this year, Plotkin, 42, had one of the best track records among hedge fund stock pickers. He’d worked for Cohen for eight years and had been one of his biggest money makers before leaving to form Melvin. He’s posted an annualized return of 30% since opening, ending last year up more than 50%, according to an investor.Representatives for Point72, D1, Maplelane, and Candlestick all declined to comment.The struggles at some of the biggest hedge funds may have contributed to Wednesday’s 2.6% drop in the S&P 500, its worst decline since October. One theory behind the decline is that funds are selling long bets to get the cash they need to cover their shorts.Cohen, 64, is perhaps the best-known victim of this year’s turmoil so far. The new owner of the New York Mets, whose fund gained 16% in 2020, has become a national figure after beating competition from Jennifer Lopez and Alex Rodriguez to buy the ball club.Late Tuesday, Cohen broke his usual habit of only tweeting about the Mets. “Hey stock jockeys keep bringing it,” he wrote on the social media platform.Read more: How ‘Flows Before Pros’ Is Disrupting Stock Markets: QuickTake(Updates Maplelane’s returns in fifth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

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  • Apple Had a Huge Quarter. Why the Stock Is Down Anyway.

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  • Time to Turn Bullish on These 2 Oil Stocks, Says Raymond James

    We are entering a new paradigm for the oil and gas industry, one far removed from the Trump Presidency’s pro-drilling policies. The Biden Admin is likely to cut back on oil and gas production in the US, in favor of promoting renewable energy sources and carbon pollution reduction. In the short run, his policies are likely to push oil and gas prices up – and that may turn out to help the hydrocarbon sector, at least at the bottom line, over the coming year. But for the oil companies, the lessons of 2020 appear in the balance sheets. The massive spike down in prices last May, followed by a quick recovery, only to finish the year at roughly the same price as it began – all of this has the producers looking to cut back on spending, consolidate or reduce debt, and maintain free cash flow. In the words of Raymond James’ oil industry analyst John Freeman: “[We] enter 4Q20 earnings and 2021 capital budget season with WTI trading, ironically, in essentially the same low $50s range as we did this time last year. While crude is largely in the same spot, the industry has definitely undergone a strategic shift with balance sheet health and returning capital to shareholders by far the highest priorities.” In addition to noting the general trend of the industry after a difficult year, Freeman has also been updating his stance on individual oil and gas stocks. Two in particular have gotten Freeman’s attention. He sees at least 50% upside potential for each of them. We ran the two through TipRanks' database to see what other Wall Street's analysts have to say about them. Apache Corporation (APA) With headquarters in Houston, Texas, Apache is an important operator in the North American oil industry. The company’s US hydrocarbon exploration and production activities are located in the Permian Basin, along the Gulf Coast, and in the Gulf Mexico. Apache also has operations in the UK (in the North Sea), in Egypt (in the Western Desert), and in Suriname (offshore). The company’s Permian holdings include 665.8 million barrels of oil equivalent, 66% of its proven reserves. The company beat the quarterly revenue expectations in the third quarter, with $1.12 billion at the top line. Since reporting the Q3 revenue, Apache’s stock has gained 71%. The company reported 445,000 barrels of oil equivalent per day in Q3 production. Covering the stock for Raymond James, analyst John Freeman writes: “We continue to like Apache's diversified portfolio of U.S. onshore and international assets (Egypt, the North Sea, and Suriname), and given Apache's considerable commodity exposure (only hedged Waha basis in 2021), the company is ideally situated to capitalize on our projected resurgence in commodity prices in the 2021/2022 timeframe. Adding to this, the operator has an extremely robust FCF profile [and] proven commitment to capital discipline…” In line with these comments, the analyst gives APA a Strong Buy rating and a $24 price target that implies a 60% upside potential over the coming 12 months. (To watch Freeman’s track record, click here) Freeman leads the Bulls on Apache. The stock has a Moderate Buy from the analyst consensus, based on 12 reviews that include 6 Buys, 5 Holds, and 1 Sell. The shares are selling for $14.94, and their $19.30 average price target suggests room for 29% upside growth this year. (See APA stock analysis on TipRanks) Diamondback Energy (FANG) Also based in Texas, Diamondback Energy is another player in the Permian Basin energy boom. The company boasts an $8.9 billion market cap and saw revenues hit $720 million in the third quarter of 2020. Production in the quarter averaged 287.8 thousand barrels of oil equivalent per day. Diamondback’s reserves total more than 1.12 billion barrels of oil equivalent, of which 63% are oil and 37% are natural gas and related liquids. Diamondback is expanding its operations through M&A activity. In December of last year, the company announced that it will be acquiring QEP Resources, a natural gas driller in the Midland Basin of the Permian formation along with operations in North Dakota’s Williston formation. The acquisition is an all-stock deal, worth an estimated $2.2 billion. QEP brings 49,000 acres in the Midland for potential development, an average production of 48,300 thousand BOE per day, and 48 ‘drilled but uncompleted’ wells. These assets are accretive to Diamondback’s portfolio. In a related piece of news, Diamondback has announced that it will also be acquiring Guidon, another rival Texas oil producer. Guidon brings additional Permian assets to Diamondback, and the acquisition is significant, valued at $862 million in both cash and stock. Casting his eye on Diamondback, Freeman sees the company in a strong position to meet the challenges of both the energy environment and the Biden Administration’s regulatory policies. “Going forward with the addition of QEP and Guidon acreage we anticipate the Midland accounts for ~75% of pro forma activity. Note that even after the QEP/Guidon acquisitions, FANG still has no federal acreage exposure - a significant positive given regulatory uncertainty will likely persist following the expiration of the 60-day leasing moratorium… We believe FANG offers considerable upside potential over the long-term and are confident in the company's ability to weather near-term commodity uncertainties,” Freeman opined. Unsurprisingly, Freeman rates FANG as a Strong Buy, along with a $91 price target. This figure indicates confidence in ~51% growth over the next 12 months. (To watch Freeman’s track record, click here) There’s broad agreement on Wall Street with Freeman’s position here. FANG stock holds a Strong Buy rating from the analyst consensus, based on 13 recent Buy reviews against just 3 Holds. The average price target is $67.37, which implies ~12% upside from the current trading price of $67.37. (See FANG stock analysis on TipRanks) To find good ideas for oil stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

  • It isn’t just GameStop: Here are some of the other heavily shorted stocks shooting higher

    The dynamic that has seemingly contributed to a short squeeze in the stock of videogame retailer GameStop Corp. also appears to be affecting shares in a host of other heavily shorted companies.

  • Major GameStop Shareholder Sells Entire Stake

    FEATURE (GME) disclosed in a filing with regulators on Thursday that MUST Asset Management, a large shareholder in the company, has sold its entire stake in the company. The South Korean asset manager’s sale comes after the stock surged 788% through Wednesday, powered higher by swarms of individual investors targeting the videogame retailer’s heavily-shorted shares.

  • Silver rallies after Reddit post about executing a ‘short squeeze’

    Silver futures rally on Thursday, heading for their highest finish in three weeks, following a post by a Reddit user who suggested executing a "short squeeze" on silver.

  • How WallStreetBets Is Fueling A Rally In Silver Stocks

    Silver stocks such as First Majestic Silver Corp (NYSE: AG) are shining amid speculation that the Reddit-fueled frenzy will extend to the precious metal and companies associated with it. What Happened: First Majestic shares closed 21.56% higher at $16.86 and gained 12.69% in the after-hours session on Thursday. The iShares Silver Trust (NYSE: SLV), an ETF that tracks silver closed 5.55% higher at $24.72. Spot silver traded 0.71% lower at $26.227, while March silver futures were up 1.38% at $26.28 at press time. On Thursday, a WallStreetBets post claimed that banks are “manipulating gold and silver to cover real inflation.” The post went on to say that the inflation-adjusted price of silver should be ,000 and not . “$AG is essentially $GME for Silver, highest short float in the sector, nice leverage to silver, and just broke out above 10 year resistance too,” said another post on the Reddit investor forum. Other silver stocks that have seen a surge include Hecla Mining Company (NYSE: HL), which closed 16.84% higher and gained 3.2% in the after-hours session, and Fortuna Silver Mines Inc (NYSE: FSM), which closed 13.73% higher at $7.62 and rose 7.09% to $8.16 in the after-hours trading. Why It Matters: Investor Chris Camillo said on Benzinga’s Short Squeeze videocast that he owns a $500,000 position in First Majestic and also owns iShare Silver Trust. The Reddit investors are clamoring for vengeance against the likes of JPMorgan Chase & Co (NYSE: JPM), which they allege have manipulated the silver market. If the investors on the forum are successful in moving silver prices, ETFs associated with silver-like ProShares Ultra Silver (NYSE: AGQ), and Aberdeen Standard Silver Shares ETF (NYSE: SIVR) could see gains. AGQ closed 11.42% higher on Thursday, while SIVR saw gains of 5.46%. See more from BenzingaClick here for options trades from BenzingaElon Musk Says Tesla Valuation Justified If Utility Of Robotaxis Is FactoredMelvin Backer Point72 Suffers 15% Loss Over GameStop Short Squeeze: NYT© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • Mark Cuban’s Advice for Day Traders Who ‘Get Long and Get Loud’

    (Bloomberg) -- Mark Cuban has one major piece of advice for day traders: Do your homework.To the billionaire investor, there are more concerning things about the financial markets -- including risks in derivatives and foreign exchange -- than a horde of nascent stock pickers rushing into names such as GameStop Corp. after reading about them on a Reddit message board. While it’s risky, losing money sometimes is part of the game, he said.“At the end of the day, get long and get loud has been the narrative to move stocks for generations,” Cuban said in an email interview. “Now that tool is available to small traders and can be empowering for them.”Cuban, a serial entrepreneur and owner of the Dallas Mavericks basketball team, has both owned stocks and shorted them over the years. He says he wouldn’t buy any of the stocks that are part of the current frenzy -- “just not my thing” -- and advises newbies to do their homework.“That’s part of the learning experience,” Cuban said of the risk. “It’s a whole lot less dangerous than forex trading that gets promoted all day every day.”The rally in GameStop and other stocks has lifted them to heights that many professional investors see as unimaginable, and now it’s drawing attention from regulators. The U.S. Securities Exchange and Commission said it’s “actively monitoring” volatility in options and equity markets. Senator Elizabeth Warren called for the SEC to take a look at the market, criticizing hedge funds for using equity trading as their personal casino.Cuban said regulators should be monitoring for whether the rally in certain stocks is a pump-and-dump scheme.“Otherwise how is this any different from an investment bank putting out a call to clients with a price target and calling it a strong buy?” he wrote.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • 'This is unacceptable': AOC, Ted Cruz and others side with retail investors, slam Robinhood and Wall Street amid GameStop mania

    A bipartisan group of politicians have raised their voices in support of individual investors who can't buy stocks like GameStock. Meanwhile, hedge funds have no restrictions.