In a simplistic, black-and-white framework, we might like one or the other to be true, but in this real-world case, both are.
In becoming shipping’s first initial public offering in a mainstream sector in two years, Ardmore did a couple of things.
It fell below its target price range of $15 to $17 a share, and thus disappointed, especially when the buzz surrounding the deal two days ago had $15 as a worst-case outcome and the company holding out for better.
But
