Scorpio Tankers Buys 5 Ships, 2M Shares

On May 11, 2023, Scorpio Tankers Inc. (STNG) was in the news. The article was written by Manshi Mamtora, CFA. 11 people had commented on the article.

Scorpio Tankers bought five ships and bought back its shares.

Company plans to buy things in July 2023. It will help reduce the debt by $119.4 million.

The company recently bought about 2 million shares. They bought them in the open market. The average price was $47.03 per share. This was part of the company's securities repurchase program.

Before the stock market officially opens today, the stock is doing well. It has gone up by 1.1%. The pre-market period is a good sign for investors, but it's still early. There is no way to predict if this increase will continue throughout the day.