Why Celanese Corporation (CE) Plummeted on Wednesday

We recently compiled a list of the 10 Stocks Plummet on Wednesday. In this article, we are going to take a look at where Celanese Corporation (NYSE:CE) stands against the other stocks.

The stock market ended firmer on Wednesday, with all major indices finishing in the green territory as investors weighed news of President Donald Trump’s imposition of a new round of tariffs while digesting minutes of the Federal Reserve.

The Dow Jones rose by 0.16 percent, the S&P 500 increased by 0.24 percent, while the tech-heavy Nasdaq eked out a 0.07 percent gain.

Ten companies bucked a broader market optimism, posting heavy losses, mostly due to disappointing earnings performance last year.

To come up with Wednesday’s worst performers, we considered only the stocks with $2 billion in market capitalization and $5 million in daily trading volume.

Is Celanese Corporation (CE) the Most Oversold S&P 500 Stock in 2024?

A laboratory full of vials, tubes and Bunsen burners, with a scientist in the center examining a chemical.

Celanese Corporation (NYSE:CE)

Celanese Corporation fell to a new all-time low on Wednesday as investors unloaded portfolios following a dismal earnings performance last year.

At intra-day trading, Celanese Corporation dropped to its lowest of $52.97 apiece before gaining momentum to end just 21.46 percent lower at $54.91 each.

In the fourth quarter of 2024, Celanese Corporation swung to a net loss of $1.9 billion from a $701 million net income in the same period a year earlier, as net sales dipped 7.4 percent to $2.37 billion from $2.56 billion.

The company also booked a net loss of $1.5 billion in full-year 2024, reversing a $1.96-billion net income in 2023, as net sales dipped 6 percent to $10.28 billion from $10.94 billion.


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This article is originally published at Insider Monkey.