Sharp selloff erases recent gains. Methanex Corporation (MEOH) shares plunged 10.9% to $51.75 in Monday’s trading, wiping out nearly $490 million in market capitalization. The stock now trades well below the analyst price targets set earlier this month.
Lingering inestor caution? The selloff comes a week after the company reported lower-than-expected Q4 earnings. It follows a series of bullish analyst actions in recent weeks—Jefferies raised its price target to $60 on March 11, UBS lifted its target to $60 on March 4, and RBC Capital increased its target to $55 on February 2—all maintaining Buy or Outperform ratings.
Volume surges on the selloff. Trading volume hit 2.1 million shares, running 2.9 times the average daily volume. The elevated activity confirms broad selling pressure rather than a thin-market anomaly.
This article was generated using AlphaStreet’s proprietary financial analysis technology and reviewed by our editorial team.