Why Alcoa Stock Is Soaring This Week
During earnings season, one often gets to see glaring examples of how irrational the stock markets can be. How else do you explain a stock slumping right after it reports its strongest quarterly numbers in years? That's what happened with Alcoa (NYSE: AA) shares after the aluminum company reported its earnings on July 15.
But as is also often the case, investors soon sensed an opportunity, and Alcoa stock has bounced back remarkably this week -- it's up 14.4% so far this week as of 9:40 a.m. EDT Friday.
Alcoa reported its second-quarter numbers on July 15 after market close. It was the company's strongest quarter since 2016, when it became an independent upstream aluminum company after the-then Alcoa split into two.
Source Fool.com
