Nucor Corporation (NUE) Stock Surges 15% In 10 Days: What Might Be The Reasons Of This Soaring?

The chart starting from July 19 gives us a clear picture of the growth of the stock. The stock was $88.68 0n July 19 and started to grow at a good pace until it reached $104.31 on July 29. The market cap of the company is 30,383 billion while the total volume consists of 4,246,039 shares.

Grow of the stock of Nucor Corporation might be related to the financial results for the second quarter of 2021. Also, the great predictions of the management team for the third quarter and the congressional maintenance for the infrastructure bill might influence the increase.

For the second quarter, the company reported about $8.79 billion in revenue. The president of the company, Leon Topalian said that they are waiting to set the new record of the quarterly earnings during the third quarter of 2021. According to the construction infrastructure bill of $550 billion, it is possible that the investors might further prefer the company’s stock.

Richard McEntire

Finance and Entertainment ReporterRichard is a bottle of wine - the older the sweeter. He has already found the sweetest hobby in writing entertainment and finance news for Own Snap. Readers get the updated posts regularly from him searching for real-time news.