Nucor Battered by Lower Steel Prices: Reasons to Hold Onto the Stock

Nucor Corporation (NUE) benefits from actions to expand its production capabilities and grow its business through strategic acquisitions amid headwinds from weaker steel prices.NUE’s shares are down 19.2% year to date, compared with a 23.9% decline of its industry. The bearishness is partly due to the choppiness in the steel space as reflected by the significant retreat in U.S. steel prices due to a combination of demand slowdown and oversupply. Image Source: Zacks Investment ResearchLet’s find out why NUE ...