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Alcoa Tanks 11% as Russian Restrictions Soften

JP Gravitt
Updated

The US Government today signaled it may give the world’s second largest Aluminum producer, Rusal, a break on aluminum sanctions. Alcoa has dropped almost 12% in response to the action. The problem with a fickle government without a real cohesive strategy is whippy returns. Who know what will happen next? Support for Alcoa could be at the $49 level. The stock recently peaked over $60 on the sanctions and a decent 2018 outlook. Take a look at our Alcoa post-earnings report here from last week.

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