Why U.S. Steel Stock Soared Today
U.S. Steel (NYSE: X) has been in the news for months since Japan's Nippon Steel made a generous offer for the iconic American steelmaker. Nippon's $14.9 billion bid in late 2023 represented a nearly 40% premium to U.S. Steel's share price at the time.
But politicians on both sides of the aisle have joined the United Steelworkers (USW) union in voicing opposition to foreign ownership of the Pittsburgh-based company. Most recently, President Biden blocked Nippon's $55-per-share cash bid on national security concerns.
Today, reports surfaced that fellow U.S. steelmakers and Cleveland-Cliffs are possibly planning a joint bid for U.S. Steel. That led shares of U.S. Steel to soar 9.4% by 12:30 p.m. ET.
Source Fool.com
Nucor Corp. Stock
€137.62
-0.390%
The stock is an absolute favorite of our community with 25 Buy predictions and no Sell predictions.
With a target price of 147 € there is a slightly positive potential of 6.82% for Nucor Corp. compared to the current price of 137.62 €.
