Why ArcelorMittal Stock Dropped 17% Today
European steelmaker ArcelorMittal (NYSE: MT) reported its Q1 2020 earnings results last Thursday. Although the company had a 23% decline in sales ($14.8 billion) and a net loss ($1.11 per share), investors reacted positively that day, bidding up Arcelor shares nearly 6%.
Today, Arcelor is giving back all those gains and more. Its stock was down 17.4% as of 1:20 p.m. EDT.
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Source Fool.com
