Here's Why Intrepid Potash Rose as Much as 18.5% Today
Shares of fertilizer company Intrepid Potash (NYSE: IPI) rose nearly 18% today after reporting solid progress in the second quarter of 2017 and capping off a pretty good first half of the year. Although sales are down, the company's bet on lower-cost solar production is resulting in improved gross margin and cash generation. Then again, the company is still losing money.
But things are heading in the right direction. In fact, if you reach back one more quarterly period, the company has reduced its debt by 54% in the last nine months. A stronger balance sheet will be important for continuing to survive the current down cycle -- and take advantage of opportunities when the market turns around.
As of market close, the stock had settled to a 17.8% gain.
Source: Fool.com
