Why is ALLEGHENY TECH(ATI) stock down so much in the past 3 weeks?

Question

I thought steel price is rising why is this company suffering?

Answer 1

First of all in a Bear market, most all stocks go down, then if you look at recent news, ATI has a lawsuit against them and they just came out with earnings, sales down, revunes down.

JP Morgan cut them to a neutral.

It doesn't mean it won't go back up. Short term, stocks will move on rumor and inuendo, long term on fundementals.

If you still believe in the company , give it some time, if not, Sell and put the money into a company you do believe in.