United States Steel Stock-Quick Win: 30.71% Return

United States Steel Stock

On the 24th of July, 2015, the I Know First stock-trading algorithm gave a strongly bearish three month long outlook for the Unites States Steel Corp. (NYSE:X). Not coincidentally, exactly three months later, the stock had fallen by 30.71%!
united states steel stock
The reason for this fall was primarily due to the falling price of steel, meaning less profits for the company. Sales plunged an incredible 38% to $2.83 billion, and net loss was $173 million, or $1.18 per share. After adjusting for one-time items, the loss was $0.70 per share, which was still far greater than the $0.28 loss analysts expected.  Furthermore, illegal steel imports by smugglers further cut into the company’s profits.

Management of the company themselves admitted that it was hard to see things turning around before at least the end of the year. Coupling this information together with the news that a manufacturing furnace was closed, and that wrangles with unions were further destabilising the company, led many analysts, among them those from Citi Group Inc. and Morgan Stanley, to lower their stock price estimates and maintained their sell rating on the stock. This further solidified the market’s bearish outlook on the stock. Shareholders fled in droves, and the stock price plummeted.

United States Steel Corporation (NYSE:X) is a steel producer. The Business is engaged in producing flat-rolled and tubular products with production operations in Europe and North America. The Organization operates through three segments: Flat-rolled Products (Flat-rolled), U. S. Steel Europe (USSE) and Tubular Products (Tubular). 

Algorithmic traders utilize these daily forecasts by the I Know First market prediction system as a tool to enhance portfolio performance, verify their own analysis and act on market opportunities faster. This forecast was sent to current I Know First algorithmic traders.