Why Is Ampco-Pittsburgh (AP) Stock Up 49% Today?
Group 1 - Ampco-Pittsburgh's stock surged after announcing new contracts and sales order backlog growth [1] - Union Electric Steel, a subsidiary, secured contracts worth 5 million for mill projects starting in the first half of 2025 [1] - The company reported a 50% growth in Air and Liquid Processing orders compared to the previous quarter, marking a new record in orders [1] Group 2 - Investor interest in Ampco-Pittsburgh increased significantly, with over 6.6 million shares traded, far exceeding the daily average of approximately 121,000 shares [2] - As of Wednesday morning, Ampco-Pittsburgh's stock price increased by 49%, although it was down 72% year-to-date as of the previous market close [2]