The stock of Allegheny Technologies Incorporated (ATI), a specialty materials company focused on Aerospace and Defense end-markets, has been battered by investor skepticism fueled by the headwinds stemming from the airlines' crisis, as investors steered clear of risks and fled to assets less exposed to the repercussions of the global airlines' stasis amid the pandemic and the economic downswing.
At first glance, this FCF positive nickel- and titanium-based alloys & superalloys producer looks like a pearl temporarily forgotten by bulls because they do not believe the industry had dived deep enough, and the