Today, Tuesday November 3rd, CENX is currently trading at $8.50. Last week, the stock opened at $10.35, reached a high of $10.74 and closed the week at $8.67. I believe the fluctuations are linked to a couple of items 1) stock prices rose after earnings reported by Alcoa, which beat expected results, 2) then prices fell once CENX reported quarterly results. Even though the quarter results showed a positive net income, this was entirely due to adjustments related to gains on termination of power contract (after-tax benefit $55.6 million).
I still believe this stock is trading at a bargain rate, and think that once the economy fully recovers, this stock will again exceed market leader Alcoa.
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