Alcoa: Should You Be Bottom Fishing?
Alcoa (AA), the leading US-based aluminum producer (DIA), is having a terrible year. The company has lost 33.8% year-to-date. The sell-off has intensified in October. The stock has lost 11.7% of its market capitalization this month based on the closing prices on October 11. Century Aluminum (CENX) and Norsk Hydro (NHYDY) have also been on a losing spree this year. Rio Tinto (RIO) has done better since iron ore prices have been surprisingly strong.