Million

Billion

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>AA stock declined 47.19% so far into 2023; lost 25.28% of its trading price in the past three months.</a> </li> 
 <li> <span>2</span> <a>Alcoa Corp. produces bauxite, alumina, and aluminum.&nbsp;</a> </li> 
 <li> <span>3</span> <a>Alcoa Corporation was expected to report $2.68 Billion (Q2) in revenue however the reported revenue was more than the estimated figure.</a> </li> 
</ul> 
<p>AA stock lost 36.74% of its trading price since the beginning of 2023 and at the time of publication Alcoa Corp stock was trading at $28.20 with intraday trading volume of 3.631 Million.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-aa-stock-price-analysis-strong"><strong>AA Stock Price Analysis&nbsp;</strong></h2> 
<p>In the 52 weeks time frame AA stock peaked at $57.61 and its lowest traded at $27.76. Alcoa Corporation has a market capitalization of $5.032 Billion and its shares average trading volume is 6.734 Million.</p> 
<p>AA stock declined 47.19% in the yearly time frame and moreover it lost 25.28% of its trading price in the past three months. At press time, Alcoa stock was trading below its annual price target of $38.35.&nbsp;</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh3.googleusercontent.com/vrEhESGu3vfHrBMhg3xBO4_oGVWM6nwmsjSFJ8NretiFDOqjtQeh5cJjGpvYOVZX-vdUHG-px5bjkPsVr0QzTsoWV5joFoqYYwB0oILfD5uaiHwwGjOmEvQ9x2wjlGS09QOe00bnxB6pne2Rt8E3-5E" alt="Alcoa Corp: AA Stock Declining Steadily; Slips by 47.19%"> 
  <figcaption class="wp-element-caption">
    Source: AA stock price chart from TradingView&nbsp; 
  </figcaption> 
 </figure> 
</div> 
<p>The RSI line is below the zero line which indicates bearishness in AA stock price, moreover RSI MA-based line is intersecting RSI line below zero line. The MACD indicator is reflecting the eradication of buyers and accumulation of sellers above the histogram.</p> 
<p>Market experts believe that a sharp short term spike in AA stock trading price could be seen in the coming session as the price fell rapidly over the last few sessions.</p> 
<p>According to TradingView, 176.683 Million shares are free floating and 0.99% of shares are closely held by financial backers of the company. The company generates its majority of income from Aluminum, Alumina and Bauxite prodiction.&nbsp;</p> 
<h3 class="wp-block-heading" id="strong-alcoa-corporation-financial-updates-strong"><strong>Alcoa Corporation Financial Updates</strong></h3> 
<p>For the second quarter, Alcoa <a href="https://www.thecoinrepublic.com/2023/09/11/apple-aapl-stock-plunges-after-china-extends-iphone-ban/" rel="noopener noreferrer nofollow">Corporation </a>was supposed to report $2.68 Billion in revenue however it reported more revenue than estimation. The estimated revenue for the third and fourth quarter is $2.59 Billion and $2.71 Billion, respectively.</p> 
<p>The estimated EPS for the second quarter was negative $0.45 while the reported EPS was negative $0.35. As per estimates, the company is expected to report negative $0.71 EPS in the third quarter of 2023.</p> 
<p>From the reported revenue of 2022, gross profit of the company was 15%, earnings before interest, taxes, and amortization (EBITDA) was 18%, Earnings before interest and taxes(EBIT) was 13% and its newt income was -1%.&nbsp;</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>AA stock has been declining since the beginning of 2023. However, the company reported positive revenue in Q2 2023 a constant decline in AA stock trading price is seen. As per market analysts, a short term bounce is possible in the coming session.&nbsp;</p> 
<h4 class="wp-block-heading"><strong>Technical Levels&nbsp;</strong></h4> 
<p>Major Resistance: $30.83 &amp; $34.09</p> 
<p>Major Support: $27.76 &amp; $27</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.&nbsp;</p>

Alcoa Corp: AA Stock Declining Steadily; Slips by 47.19%

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