We recently compiled a list of the 10 Stocks Lead Wednesday’s Charge, Mirror Broader Gains. In this article, we are going to take a look at where Huntsman Corporation (NYSE:HUN) stands against the other stocks.
US shares stayed firmer on Wednesday, with all major indices finally eking out gains as President Donald Trump softened on trade restrictions for three large automakers, reviving hopes that the trade war may not be as bad as it seemed.
The Dow Jones grew 1.14 percent, the S&P 500 rose by 1.12 percent, while the tech-heavy Nasdaq jumped 1.46 percent.
On Wednesday, the White House granted three large automakers a one-month exemption from tariffs after a call with the president, sending their share prices higher during the session.
Ten firms also mirrored the broader optimism, posting strong gains during the day. In this article, we have listed the 10 names and detailed the reasons behind their performance.
To come up with Wednesday’s top gainers, we considered only the stocks with $2 billion in market capitalization and $5 million in daily trading volume.
Workers in a chemical plant, creating the state-of-the-art organic chemical products.
Huntsman Corporation (NYSE:HUN)
Huntsman Corporation (NYSE:HUN) saw its share prices increase by 8.85 percent on Wednesday to finish at $17.46 apiece as investors resorted to bargain-hunting following a new all-time low in the prior trading day.
Huntsman Corporation (NYSE:HUN), a multinational manufacturer of chemical products, fell to its lowest price of $15.46 on Tuesday in line with the overall market sentiment after investors sold off positions to mitigate risks from the company’s potential impact from the ongoing trade war between the United States and its largest trading partners.
Manufacturing companies such as Huntsman Corporation (NYSE:HUN) are sensitive to any movements in prices of raw materials to manufacture their goods, and with higher tariffs now in place for Canada, Mexico, and China, where some of its facilities are located, the company is expected to face significant pressures on its profit margins.
Overall HUN ranks 10th on our list of Wednesday’s top gainers. While we acknowledge the potential of HUN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than HUN but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.