On 18 May 2021, BW LPG (BWLPG) reported its 1Q21 results. In the two days that followed, the stock rallied almost 12% to a 52-week high of NOK 71.45. Similarly, two other stocks under our coverage, StealthGas (GASS) and Navigator Holdings (NVGS), both traded near their respective one-year highs of USD 3.25 and USD 11.70 in May. These three stocks have shown a remarkable correlation with the spot market and the asset market in the past. However, while stock prices retraced after mapping 52-week high, the asset market has shown continued strength, reaffirming our faith that the recent correction is a temporary phase, and stocks would soon revert towards their respective NAV per share.
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