Here's Why Chemours Stock Fell 20.5% in July
Shares of The Chemours Company (NYSE: CC) dropped over 20% in July, according to data provided by S&P Global Market Intelligence. There wasn't any major news, but investors were certainly not looking forward to second-quarter 2019 results, due to be released on the first day of August. The global titanium dioxide (TiO2) industry is on the cyclical downswing, which figures to be not much fun for the TiO2 leader.
Turns out, the pessimism was warranted. Chemours reported significant headwinds for its TiO2 segment. Making matters worse, the business saw sales of an important refrigerant product collapse due to illegal imports into Europe. That swiped away all of the benefit of getting its state-of-the-art factory in Texas running more smoothly. Shares have lost 50% since the end of June through the first part of August.
Image source: Getty Images.
Quelle Fool.com
