Alcoa ( (AA) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Alcoa shares are under pressure after management warned of weaker near-term performance at the JPMorgan Industrials Conference. Investors are reacting to fresh operational challenges that contrast with still-strong global aluminum prices.
The company now expects first-quarter aluminum shipments to be 30,000 metric tons lower than previously planned. Alcoa said this will cut revenue by about 150 million dollars and push back recognition of roughly 30 million dollars in EBITDA, adding to concerns about its earnings outlook.
More about Alcoa
YTD Price Performance: 21.07%
Average Trading Volume: 7,518,901
Technical Sentiment Signal: Buy
Current Market Cap: $16.95B
For further insights into AA stock on TipRanks’ Stock Analysis page.
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