06-05-2020, 04:44 PM
CEO of Germany's largest shipping company (Hapag-LLoyd) just came on TV so I thought I'd listen, in case any relevance to EM.
He says they've had reduced demand out of Asia/China and then the West starting in March and India and others now. A ratings agency downgraded their outlook in April.
But their share price has gone up 500% in the last 12 months and 120% mostly since beginning of March.
The interviewer asks the CEO if he can give a reason why. The CEO says "No, I don't think so...we're trying to understand it. There is no obvious reason for it."
Bizarre.
He says they've had reduced demand out of Asia/China and then the West starting in March and India and others now. A ratings agency downgraded their outlook in April.
But their share price has gone up 500% in the last 12 months and 120% mostly since beginning of March.
The interviewer asks the CEO if he can give a reason why. The CEO says "No, I don't think so...we're trying to understand it. There is no obvious reason for it."
Bizarre.