Alcoa’s stock has been hammered by investors as it failed to meet revenue expectations. I think the stock will experience further selling pressure. Should the stock fall to $15.5, it seems like a good support level to pick some shares in the company.
Aluminum is still in demand, though economics are becoming bad as the input costs are increasing rapidly. It is good that Alcoa will be opening its cheap smelter really soon to increase its operating margins.
No comments:
Post a Comment