Cheap Under $10 Stock On Spot: O-I Glass Inc (NYSE: OI), Q1 Positive Net Income

American glass bottle and packaging manufacturer with a long history, O-I Glass has a gaining 15.27% stock NYSE: OI as of close market on Monday. Daily trading volume rose to 3,484,622 shares that significantly exceed its average daily volume of 2,770,398 shares.

O-I Glass announced the Q1 2020 financial report, not a long ago, which consists of interesting data for the future of the stock’s performance.

First-quarter ended in March 2020 financial results

Perhaps, COVID-19 affected its dropped Q1 2020 revenue which is less than last year and a quarter ago Q1 revenues. However, smart cost-cutting has led to $50 million net income that could pay dividends for patient stockholders.

The actual value of O-I Glass is far less than its market value of $1.383 billion. Because of acquisition and merger expenses, its 12-month based earnings per share has become negative.

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Alex Krakowsky

Editor in Chief.Living in the era of dynamic tech change Alex decided to stay tuned in changes that make any person find comfort and adapt to new devices. Furthermore, gaming became his passion for spending leisure time with his close ones. Although, he has a degree in Business Administration (majoring in Finance) writing for technology and as well as finance has been one of the precious aspects of his life