Celanese shares slip nearly 10% and underperform rivals
Updated
Updated · MarketWatch · May 6
Celanese shares slip nearly 10% and underperform rivals
12 articles · Updated · MarketWatch · May 6
The stock fell to $62.12 on Wednesday as the S&P 500 rose 1.46% and the Dow gained 1.24% in a broadly positive session.
Celanese closed 12.14% below its 52-week high of $70.70 reached on May 5, while trading volume jumped to 5.2 million shares from a 50-day average of 2.5 million.
Among peers, Avantor rose 4.72% and Huntsman added 0.73%, while Westlake fell 4.64%, leaving Celanese the weakest performer in the group.
Is Celanese's sudden drop a warning sign for the entire U.S. chemical sector's battle with global overcapacity?
Celanese predicts a record quarter after a 10% stock plunge. Who is right: the market or the management?