You are so right about one thing: you "have no idea why"; and why should you? Nobody knows what a stock will do. There are only those that don't know, and those that don't know they don't know. Just own it, is all.
There is a glut of steel and a slow down in China. The debt load is high and nothing can be done as many of their plants in France and E-Europe have no value and are kept in operation because of Govt. stipulations.
The steel Industry may drift sideways for the next few years.
I agree. But I also believe that a "side ways" move with increase the stock price because it's sure better then a downward move. Steel is like any good thing. You don't know how good you had it until it's too late. If you're not in now and willing to wait it out the opportunity will pass you by and you won't even know it. This company is not going to go out of business.
Another favorite of mine is B of A. I'm in at $8.34 per share on that one. Even at $16.60 today it's a $25-30 per share stock in the next 2 years. You won't make that off a saving account with them. Be patient. Give it time.
At least this board has some folks that discuss the steel business. The X board is constant shorties flogging and false rumor planting to make three cents on a stock move. The domestic steel industry is littered with outsized Executive pay packages and perks for lackluster results in spite of legacy resources of iron ore, coal, limestone and paid for facilities that all should contribute to a cost advantage, but do not due to Management decisions. Pricing policy is a disaster, exceeded only by M&A mistakes and lack of investment in production, processes, and personnel to service the customers.The Country Club atmosphere for the few, at the expense of the business fundamentals, has gone on across the industry with the result being high costs, low margins, limited profits if any, and a tremendous opportunity for improvement with the right Management in charge. MT's acquisition of the TK Calvert, Alabama plant adds lots of debt (off-books) and more over capacity looking for an outlet, but al least it is an investment in quality production if their talent can fix the processes. good luck to all the hard workers in a tough industry to fix.