SQM - This Stock Is Hitting New Highs Even as the Market Sinks Again
Wall Street had a bad day on Wednesday, and initial signs from Thursday morning suggested that further declines might be in store. The ongoing churning in the stock market is having a negative impact on investor sentiment, and short-term traders in particular are losing their nerve and looking for gains on the downside. As of 7:30 a.m. ET, futures on the Dow Jones Industrial Average (DJINDICES: ^DJI) were down 339 points to 31,101. S&P 500 (SNPINDEX: ^GSPC) futures dropped 44 points to 3,879, while Nasdaq Composite (NASDAQINDEX: ^IXIC) futures were lower by 140 points to 11,795.
Amid that tough market environment, it might be surprising to see a stock racing to all-time highs. However, that was the case for Chile's Sociedad Química y Minera (NYSE: SQM) on Wednesday, and the stock rose further on Thursday morning after the company reported extremely strong financial performance. Given the company's impact on a key high-growth sector of the industrial economy, it's not surprising to see this materials provider doing so well. You'll find the details on the Chilean resources company's latest results below.
Image source: Getty Images.
For further details see:
This Stock Is Hitting New Highs Even as the Market Sinks Again