Why Frontline Stock Is Soaring While Euronav's Is Plunging Today
Shares of Frontline (NYSE: FRO) had skyrocketed more than 25% by 12:45 p.m. ET on Wednesday, while Euronav's (NYSE: EURN) stock price had plunged more than 15%. Driving the big move in the oil tanker stocks was the termination of their merger agreement. Frontline has abandoned its bid to acquire rival oil tanker Euronav.