GSM - Why Ferroglobe Stock Popped on Wednesday
London-based specialty metals company Ferroglobe (NASDAQ: GSM) is defying the downturn on the Nasdaq Wednesday afternoon. The stock was up 5.3% as of 1 p.m. ET today after reporting a beat on earnings last night.
Ferroglobe actually missed analyst targets for sales for its first quarter of fiscal 2022, reporting only $715.3 million. The company easily topped Wall Street's earnings expectations, however, reporting $0.80 per share in profits based on generally accepted accounting principles (GAAP) , and $0.88 pro forma, well above analysts' forecast of $0.73.
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Why Ferroglobe Stock Popped on Wednesday