Why United States Steel Corp. (NYSE:X) Crashed Yesterday

We recently compiled a list of the 10 Firms Kick Off 2025 Trading in The Red. In this article, we are going to take a look at where United States Steel Corp. (NYSE:X) stands against the other stocks.

The stock market finished the first trading day of the year in the negative territory—a fifth straight day, over the lack of catalysts to spark trading appetite.

The Dow Jones Industrial Average was down the most by 0.36 percent, the S&P 500 decreased 0.22 percent, and the Nasdaq Composite dipped 0.16 percent.

Ten companies also kicked off trading mirroring the broader market downturn. In this article, let’s explore the reasons behind their decline.

To come up with Thursday’s top losers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

A steel rod, bent and contoured to the exact specifications of the company.

United States Steel Corp. (NYSE:X)

Shares of United States Steel Corp. (NYSE:X) finished the first trading day of the year in the red, shedding 4.09 percent or 1.39 points at $32.60 each as investors pocketed early gains following a 9.54-percent rally in the previous trading day.

Investors remained in a wait-and-see mode following news that the company is set to be acquired by Japanese company Nippon Steel for $14.9 billion, pending approval of outgoing president Joe Biden.

According to reports, the acquisition plan remains under review due to national security concerns from the Treasury Department’s Committee on Foreign Investment in the United States (CFIUS).

The revised proposal by Nippon Steel included a provision granting veto power to the federal government over any reduction in production capacity, should the acquisition secure approvals.

Overall X ranks 5th on our list of the stocks that crashed yesterday. While we acknowledge the potential of X as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than X but that 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.