a day ago
Frontline (FRO) Jumps 7.5% as Geopolitical Tensions Expected to Benefit Operations
We recently published a list of . In this article, we are going to take a look at where Frontline PLC (NYSE:FRO) stands against other best-performing stocks of Friday.
Frontline PLC extended its rally to a fourth consecutive day on Friday, jumping 7.46 percent to finish at $19.74 apiece as investors gobbled up shares in the company amid the ongoing geopolitical tensions between Israel and Iran.
Frontline PLC (NYSE:FRO), an oil tanker company, is expected to benefit from the geopolitical risks due to expectations of higher freight rates and rerouting costs.
A fleet of oil tankers sailing across the open sea under a clear sky.
Israel released its biggest-ever military strike on Iran on Friday, killing the latter's military chief, head of its elite Revolutionary Guard Corps, and air force leader. The strike prompted Iran to retaliate, firing fewer than 100 missiles.
Following Israel's strike on Iran, Western naval forces had warned commercial shipping companies of heightened risks, including around the Hormuz Strait.
In a phone interview with Bloomberg, Frontline PLC (NYSE:FRO) CEO Lars Barstand said that the company became 'far more hesitant offering in.'
However, Frontline PLC (NYSE:FRO) remained business as usual, albeit exercising caution in the risky areas.
While we acknowledge the potential of FRO as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. This article is originally published at Insider Monkey.
