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Alcoa Stock Plummets 9.5% Following Projected $60 Million Hit to Alumina Segment
- Alcoa stock fell sharply after an investor presentation detailed a projected second-quarter headwind.
- The stock dropped 9.47% to close at $65.55 on heavy volume that was 1.48 times its 20-day average.
- A projected $60 million hit to its Alumina segment is raising concerns about near-term profitability.
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Conclusion
June 10 close of $65.55 vs. June 9 close of $72.41 (9.47% decline); volume of 6,520,947 vs. 20-day average of 4,410,177; projected $60 million Q2 Alumina segment hit.