Why Kaiser Aluminum Stock Slumped Today Despite 169% Sales Growth
Kaiser Aluminum (NASDAQ: KALU) shares went on a roller-coaster ride today. By 11:20 a.m. EDT, the aluminum stock was down 12.8% as Kaiser reported a big net loss for its second quarter. That was in sharp contrast to rival Alcoa's (NYSE: AA) recently reported quarterly earnings -- Alcoa shares soared on the day of its earnings release.
Investors, however, seem to have found green shoots in Kaiser's otherwise seemingly morbid quarterly numbers, which is why the stock regained some ground and closed Thursday down only 5.8%.
Kaiser Aluminum released its second-quarter earnings report after market close on July 21.
Source Fool.com
