Alcoa Stock Is Trading Lower Monday: What's Going On?
Portfolio Pulse from Adam Eckert
Alcoa Corp (NYSE:AA) announced a CEO transition with William Oplinger succeeding Roy Harvey, effective from Sept. 24. Harvey will serve as a strategic advisor to Oplinger until the end of the year. Following the announcement, Alcoa shares traded lower, down 4.94% at $26.95.
September 25, 2023 | 4:49 pm
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Alcoa's shares traded lower following the announcement of a CEO transition. The new CEO, William Oplinger, will take over from Roy Harvey from Sept. 24.
CEO transitions often lead to uncertainty in the market, which can negatively impact the stock price in the short term. This seems to be the case with Alcoa, as its shares traded lower following the announcement.
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