When I was writing that AK Steel (AKS) shares “will be in the penalty box until the next earnings release” back at the end of October, I was rather skeptical about the short-term perspectives of the company’s stock, but I surely did not envision the magnitude of the downside that followed:
AK Steel stock faced a perfect storm. Of course, missing Q3 earnings expectations and presenting disappointing Q4 guidance was already a problem for the company’s shares. This was exacerbated by volatility in the general stock market, U.S. — China trade war, correction