Why Frontline's Stock Is Trading Lower Today

Frontline Ltd FRO shares are trading lower on Wednesday after the company announced a $100 million at-the-market offering.

Frontline is a shipping company engaged in the seaborne transportation of crude oil and oil products. Group operates through the tankers segment. The tankers segment includes crude oil tankers and product tankers.

Its geographical area of operation includes Arabian Gulf, West African, the North Sea and the Caribbean. Frontline earns revenue through voyage charters, time charters, and a finance lease. It is also involved in the charter, purchase, and sale of vessels.

Frontline shares were trading down 12.44% at $7.95 on Wednesday. The stock has a 52-week range between $13.33 and $6.08.