Why Shares of Alcoa Gained 13% in May
It's been a tough ride for shareholders of Alcoa (NYSE: AA) with the stock vastly underperforming the S&P 500 in 2019 and losing nearly 75% of its value in the first three months of 2020.
In recent months, however, the stock has begun to stage quite a rally. Alcoa shares gained 13% in May, according to data provided by S&P Global Market Intelligence, on growing hopes for a global economic recovery.
Alcoa has been a tough stock to love for the better part of this century. The company in the early 2000s attempted to move away from its reliance on commodity aluminum prices by acquiring a collection of aerospace component companies and other finished metal businesses.
Source Fool.com
