Aegean Marine Petroleum MoU: Looking at the trending tickers of the day, it’s difficult to ignore the Aegean Marine Petroleum stock, which is currently up nearly 200%. But why?
Aegean Marine Petroleum Enters MoU with Mercuria Energy | Stock Soars
There’s a justifiable reason for why the Aegean Marine Petroleum stock is up nearly 200% today. On Thursday, the New York-based company announced that it had entered a MoU with a very successful independent commodity and energy group: Mercuria Energy Group.
Under the terms of the MoU, which stands for Memorandum of Understanding, Mercuria Energy Group will help Aegean Marine Petroleum to advance its revolving credit facilities in both the U.S. and overseas. The two companies will also be looking into a global strategic partnership.
According to Donald Moore, an Aegean Chairman, Aegean Marine Petroleum is “extremely pleased” about the agreement, and believes it to be the opportunity Aegean Marine Petroleum needed to “completely redefine and optimize the Company’s capital structure.”
All in all, the Aegean Marine Petroleum believes this agreement will lead to the “benefit of [their] respective stakeholders.“
Aegean Marine Petroleum MoU with Mercuria Energy | A Good Thing?
It’s clear the marine fuel logistics firm is excited about its MoU with Mercuria Energy, but are investors? Apparently. Why else would the stock be up nearly 200% on the day of the news?
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Aegean Marine Petroleum Stock Price | The Latest Reading
At press time, according to Google Finance, Aegean Marine Petroleum (NYSE:ANW) is trading at $1.84. This puts the stock up 192.06%. Earlier in the trading day, the Aegean Marine Petroleum stock was over the 200% mark.
The Takeaway
How do you feel about the news of the Aegean Marine Petroleum MoU with Mercuria Energy?
With a stock up over 150% and a partnership with a renowned company, all looks well in the world of Aegean Marine Petroleum.
Featured Image: Twitter
