Speculation On Why Terex Corporation (TEX) Dropped Over 17% Yesterday
Tweet
Share
E-mail
Get Alerts TEX Hot Sheet
Price: $59.90 -1.22%
Overall Analyst Rating:
NEUTRAL (= Flat)
Dividend Yield: 1.4%
Revenue Growth %: +8.3%
Overall Analyst Rating:
NEUTRAL (= Flat)
Dividend Yield: 1.4%
Revenue Growth %: +8.3%
Join SI Premium – FREE
Terex Corporation (NYSE: TEX) dropped over 17% on ostensibly no news. I have no verification of this, but I am speculating that there could have been some sort of margin calls. I saw large block trades that caused Terex to go on a firesale yesterday.
The trading in Terex yesterday looked like margin calls to me because of other similar stock chart patterns of other stocks that were hit with severe margin calls over the past few weeks. For example, you saw action similar to Terex's yesterday in stocks like Chesapeake Energy (NYSE: CHK), Boston Scientific (NYSE: BSX) and General Growth Properties (NYSE: GGP).
It will be interesting to see how Terex trades throughout the day as Terex announces earnings later today.
Was yesterday a bottom in Terex and a great time to buy or trade it? Tough to say, but if the action was due to margin calls, then there is good shot that Terex is poised to rise back over 20 shortly.
Terex Corporation (Terex) is a diversified global manufacturer of capital equipment focused on delivering reliable, customer relevant solutions for the construction, infrastructure, quarrying, surface mining, shipping, transportation, refining and utility industries.
Subscribe to EasyStockAlerts.com & Get real-time e-mail alerts when news hits your stocks!
The trading in Terex yesterday looked like margin calls to me because of other similar stock chart patterns of other stocks that were hit with severe margin calls over the past few weeks. For example, you saw action similar to Terex's yesterday in stocks like Chesapeake Energy (NYSE: CHK), Boston Scientific (NYSE: BSX) and General Growth Properties (NYSE: GGP).
It will be interesting to see how Terex trades throughout the day as Terex announces earnings later today.
Was yesterday a bottom in Terex and a great time to buy or trade it? Tough to say, but if the action was due to margin calls, then there is good shot that Terex is poised to rise back over 20 shortly.
Terex Corporation (Terex) is a diversified global manufacturer of capital equipment focused on delivering reliable, customer relevant solutions for the construction, infrastructure, quarrying, surface mining, shipping, transportation, refining and utility industries.
Subscribe to EasyStockAlerts.com & Get real-time e-mail alerts when news hits your stocks!
You May Also Be Interested In
- Boston Scientific (BSX) PT Raised to $85 at Mizuho
- Boston Scientific (BSX) PT Raised to $84 at Baird
Create E-mail Alert Related Categories
Insiders' BlogSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
