AK Steel Holding Corporation (NYSE: AKS) is having a strong day in the market today. This is great news as the company has seen some pain over the past year. However, with a recent win for President Trump, investors are hopeful that the United States steel industry is next up on the agenda. Today, we’ll talk about why President Trump may lead AKS into a good year next year, what we’re seeing from the stock today, and what we’ll be watching for ahead.
President Trump Could Lead To Gains For AKS In 2018
As mentioned above, President Donald Trump may prove to be a positive catalyst for AK Steel Holding in the year 2018. Throughout his campaign to become the President of the United States, President Trump made several promises. However, in reality, the President simply couldn’t work on everything he wanted to at once.
However, Trump just clocked his first win, and it could lead to a positive catalyst for AKS. You see, recently, Senate backed the tax plan that the Trump administration put together. As a result of this big win, corporate gains taxes will be reduced, which will be a benefit to just about every corporation in the United States. However, that’s not the positive catalyst.
The positive catalyst is what President Trump is likely to do next. As mentioned above, throughout his campaign, Trump made several promises. One of the biggest of these promises was a promise that was made to the steel industry as a whole. President Trump would improve the playing field, giving United States steel companies a competitive advantage over imported steel products. While this hasn’t happened yet, with the tax plan now approved and off of the agenda, Trump may very well tackle imports next. If this is the case, AKS and other companies in the industry may have a great year in 2018.
What We’re Seeing From The Stock Today
AK Steel Holding is having an incredibly strong day in the market today. Trading on strong volume, the stock is making its way toward the top. Of course, our partners at Trade Ideas were the first to alert us to the gains. Currently (11:13), AKS is trading at $5.10 per share after a gain of $0.27 per share or 5.71% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on AKS. In particular, we’re interested in watching what comes up next on the Trump agenda, and how Trump’s moves down the road affect the steel industry as a whole. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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