Huntsman Corporation (NYSE: HUN)
Huntsman Corporation was off to an incredibly rough day in the market today. The stock was slightly in the red when the trading session opened. From there, it jumped to the green for a short period of time before taking a dive. Throughout the majority of the morning, we’ve seen a continuation of declines. Nonetheless, minutes ago, the stock was halted. Below, we’ll talk about what we’re seeing from HUN in the market, why, and what we’ll be watching for ahead.
What We’re Seeing From HUN
As mentioned above, Huntsman Corporation wasn’t off to the best of starts in the market today. When the opening bell rang, the stock was trading in the red before popping to the green for a few short minutes. From there, the stock tanked, taking a dive deep into the red where it remained for the most of the day. At the moment (11:03), HUN is halted at $20.32 per share after a loss of $0.26 per share (1.26%) thus far today.
What’s Going On With The Stock
As soon as our partners at Trade Ideas brought this wild ride on HUN to our attention, the CNA Finance team started digging to see what was causing the halt. While the news is officially still pending on the halt, we do believe that we have found the story. It seems as though the reason for the halt surrounds a fire that’s being announced as we speak.
The halt seems to be caused by a fire at the Huntsman Corporation titanium dioxide facility in Finland. There hasn’t been much more news offered surrounding the fire, potential damage, or even whether or not the fire is under control just yet. Nonetheless, this is a major hit to HUN and it’s investors, sending the value of the stock down.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be watching HUN incredibly closely. In particular, we’re interested in learning more about the titanium dioxide factory fire and how extensive the issue proves to be. We’ll be watching the news incredibly closely, and as usual, we’ll be bringing it to you as it breaks!
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Update (11:22): HUN reopens. The stock is trading at $20.30 per share after a loss of $0.28 (1.36%) thus far today.
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[Image Courtesy of Geograph]