INPAP - International Paper Company: A Change In Leadership Causes Shares To Spike
2024-03-19 17:28:53 ET
Summary
- International Paper Company's shares spiked 11% and hit a 52-week high after announcing a new CEO, Andrew Silvernail.
- Silvernail has a strong track record in business and investors hope his leadership will improve the company's performance.
- International Paper has been undergoing a transformation to boost its bottom line and position itself for long-term growth.
- But even if efforts fail to create value, shares look attractive right now.
March 19 was a pretty big day for shareholders of International Paper Company ( IP ). Shares of the company spiked around 11%, even hitting a 52-week high. Due to declining fundamentals, the last year or so has been rather painful for investors. Since I last wrote about the company in an article wherein I rated it a ‘buy’ that was published in April of 2022, shares are down 10.2%. By comparison, the S&P 500 has seen upside of 23.4%....
International Paper Company: A Change In Leadership Causes Shares To Spike