Here's Why Intrepid Potash Dropped as Much as 14.4% Today

Here's Why Intrepid Potash Dropped as Much as 14.4% Today

Shares of fertilizer producer Intrepid Potash (NYSE: IPI) sank over 14% today after an analyst downgrade. The stock had been trading near two-year highs after the company released second-quarter 2017 financial results last week. Overall, the results showed signs that management's new strategy may just be working.

Focusing on lower production costs, however, wasn't enough to impress UBS analyst John Roberts, who slashed his rating of Intrepid Potash stock from neutral to sell. As of 2:30 p.m. EDT, the stock had settled to a 12.1% loss.

Image source: Getty Images.

Continue reading

Source: Fool.com