Steel Dynamics Can Benefit From Demand Bottoming
STLDSteel Dynamics(STLD) Seeking Alpha·2024-07-30 20:17
Monty Rakusen Shares of Steel Dynamics (NASDAQ:STLD) have been a solid performer over the past year, rising about 25%. However, shares have pulled back over 10% from their high as investors have been concerned about a potential slowing in the economy. I last covered STLD in April, reiterating shares as a “buy.” Since that recommendation, performance has been disappointing with shares down 13% even as the market has rallied 5%. With solid Q2 results and long-term tailwinds, I believe this is a dip that s ...