United States Steel Corporation ($X) Stock Forecast: Down 5.0% Today

What is United States Steel Corporation?

Stock X is experiencing a downturn in the market today.

Why is United States Steel Corporation going down?

X stock is down 5.0% on Sep 26, 2024 16:16

• Concerns about the future profitability and growth prospects of companies like United States Steel (X) have surfaced due to Kamala Harris's stance on US steel production, even if it could result in job losses.
• Investor sentiment is showing in bearish options activity on United States Steel, suggesting anticipation of challenges in the steel industry that may be impacting X stock negatively.
• The recent political discourse on steel production coupled with bearish options activity may be influencing the decline in Stock X, indicating market uncertainty and possible obstacles ahead for the company.

X Price Chart

X Technical Analysis

X News

Amid Nippon-US Steel Debacle, Kamala Harris Stresses Importance Of US Steel Production, Even If It Means Job Losses: 'Critically Important, Not Only In Terms Of Our Economy, But Also In The Context Of National Security' - Nippon Steel ( OTC:NISTF ) , United States Steel ( NYSE:X )

Democratic presidential candidate Kamala Harris emphasized the importance of maintaining domestic control over steel production, even if it results in job losses. What Happened: Harris stated during an interview with MSNBC, that keeping American manufacturing of steel by American workers is crucial.

https://www.benzinga.com/markets/equities/24/09/41045029/amid-nippon-us-steel-debacle-kamala-harris-stresses-importance-of-us-steel-production-even-if-it

United States Steel Unusual Options Activity - United States Steel ( NYSE:X )

Investors with a lot of money to spend have taken a bearish stance on United States Steel X. We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga. Whether these are institutions or just wealthy individuals, we don't know.

https://www.benzinga.com/insights/options/24/09/41008543/united-states-steel-unusual-options-activity

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United States Steel Corporation Price History

13.08.2024 - X Stock was up 5.1%

• Unusual options activity and a bullish approach from deep-pocketed investors towards United States Steel indicate growing confidence in the company's future prospects.
• The 7% rally in United States Steel shares, fueled by notable volume and positive news about ZMAG-coated steel, suggests renewed investor interest and optimism in the company's products and offerings.
• Upgraded ratings on steel stocks, including United States Steel, reflect a broader rebound in the steel industry and improved market conditions, contributing to the bullish movement in Stock X.
• Despite the positive momentum, caution is advised as the latest trend in earnings estimate revisions may impact the stock's future performance, highlighting the need for careful monitoring of market dynamics.

20.07.2024 - X Stock was down 6.6%

• The bearish movement in United States Steel (X)stock can be attributed to the negative sentiment surrounding the opposition from former President Donald Trump and Pennsylvania Governor Josh Shapiro towards Nippon Steel Corp.'s planned purchase of US Steel. This opposition has created uncertainty about the future of the deal and the company's strategic direction.
• The options trading activity detected by market scanners also indicates a mixed market sentiment, with a significant amount of money being traded on options contracts, possibly reflecting investor hedging or speculation in response to the news.
• The sudden plunge in US Steel's shares, the most significant in five months, further underscores the impact of the deal's uncertainty on investor confidence and the stock price.
• Overall, the market movement in United States Steel (X) today appears to be driven by concerns over the potential disruption to the planned acquisition by Nippon Steel Corp., highlighting the importance of regulatory and political factors in shaping the company's future prospects.

10.08.2024 - X Stock was down 5.7%

• Ratings on major steel companies, including Nucor, Steel Dynamics, and US Steel, were upgraded by JPMorgan due to improved valuations and a positive industry outlook.
• President Biden's potential block on Nippon Steel's acquisition of US Steel could have contributed to uncertainty in the steel sector and the bearish movement in Stock X.
• Conflicting analyst ratings and regulatory challenges might have further fueled volatility and downward pressure on Stock X's stock price today.

12.08.2024 - X Stock was up 10.0%

• The bullish movement in United States Steel (X) is likely driven by a significant increase in trading volume, suggesting growing investor interest and confidence in the stock.
• The introduction of ZMAG-coated steel by U.S. Steel may have played a role in boosting positive sentiment around the company, demonstrating a focus on innovation and sustainability.
• Upgrades and optimistic forecasts from leading Wall Street analysts regarding United States Steel could have also contributed to the upward momentum, signaling increasing confidence in the company's future outlook.
• In summary, the combination of heightened trading volume, product innovations, and analyst endorsements likely propelled United States Steel (X) to its strong performance today.

12.08.2024 - X Stock was up 10.4%

• U.S. Steel (X) experienced a strong bullish movement due to several factors:
• The unveiling of ZMAG-coated steel, offering greater strength and flexibility along with a 25-year warranty, likely boosted investor confidence in the company's future prospects.
• Positive analyst ratings and upgrades from top Wall Street analysts contributed to the bullish sentiment surrounding U.S. Steel (X).
• The rebound in steel stocks, with JPMorgan lifting ratings on key players including U.S. Steel (X), indicates a more favorable outlook for the industry as a whole, driving up X's stock price.
• Despite the potential challenges highlighted in the latest trend in earnings estimate revisions, the overall market sentiment towards U.S. Steel (X) remains optimistic, leading to the strong bullish movement observed today.

20.07.2024 - X Stock was down 7.0%

• Stock X experienced a strong bearish movement today.
• The negative market sentiment was fueled by the opposition from former President Trump and Pennsylvania Governor Shapiro towards Nippon Steel Corp.'s planned purchase of United States Steel Corp.
• The uncertainty surrounding the deal between US Steel and Nippon Steel contributed to the significant drop in Stock X's share price.
• Investors reacted strongly to the news, leading to the largest decline in Stock X's shares in five months.

11.08.2024 - X Stock was up 5.3%

• The unveiling of ZMAG-coated steel with enhanced features and a long warranty period has likely generated positive investor sentiment.
• Upgraded ratings on various steel stocks, including X, indicate a favorable outlook for the industry, leading to increased investor confidence.
• Analysts turning bullish on United States Steel, including X, following recent upgrades, further bolstered the stock's bullish movement.
• Overall, the combination of new product offerings, improved industry outlook, and positive analyst sentiment has propelled stock X to experience a strong bullish movement today.

26.08.2024 - X Stock was down 5.0%

• Concerns about the future profitability and growth prospects of companies like United States Steel (X) have surfaced due to Kamala Harris's stance on US steel production, even if it could result in job losses.
• Investor sentiment is showing in bearish options activity on United States Steel, suggesting anticipation of challenges in the steel industry that may be impacting X stock negatively.
• The recent political discourse on steel production coupled with bearish options activity may be influencing the decline in Stock X, indicating market uncertainty and possible obstacles ahead for the company.

04.08.2024 - X Stock was down 7.3%

• X experienced a bearish movement today.
• The news of Nippon Steel's additional investments in US Steel, despite facing resistance, could have raised concerns among investors about the future prospects of the company.
• The bullish sentiment from deep-pocketed investors towards US Steel's options might not have been enough to counterbalance the negative impact of the takeover resistance and the uncertainty surrounding the company's future.
• The overall market sentiment, with U.S. stock futures lower and the Nasdaq dipping, could have also contributed to the bearish movement of X.

05.08.2024 - X Stock was down 17.5%

• The bearish movement in United States Steel Corporation's stock (X) today can be attributed to President Joe Biden's reported decision to block Nippon Steel Corp's acquisition of the company, causing uncertainty and potential disruption in the planned merger.
• The negative market sentiment towards X might have been further fueled by the overall pre-market session trend where big stocks like Boeing were moving lower, indicating a broader market downturn.
• Despite the bullish approach adopted by deep-pocketed investors towards United States Steel, the news of the potential acquisition block by the Biden administration seems to have overshadowed the positive sentiment, leading to the bearish movement in the stock price.

18.08.2024 - X Stock was up 5.2%

• United States Steel (X) saw a significant bullish uptrend today as its shares surged by 7% to close at $33.39.
• The increased options activity alongside a positive stance from well-funded investors towards United States Steel likely fueled this positive movement.
• The decision delay by the U.S. national security panel regarding Nippon Steel's acquisition bid for United States Steel until after the presidential election introduced an element of uncertainty, stimulating higher trading volume and a bullish outlook.
• United States Steel's strong performance over the last 5 years, exceeding market performance and boasting an average annual return of 22.72%, may have further bolstered today's bullish trajectory.

27.05.2024 - X Stock was up 5.0%

• A securities class action investigation raised concerns initially.
• An upgraded outlook and positive prospects for the company's projects drove investor optimism.
• The company received recognition for its commitment to diversity and inclusion, potentially enhancing investor perception.
• Despite bearish options activity, the overall positive developments and upgrades sustained the stock's bullish momentum.