What Happened?
Shares of steel and waste handling company Enviri (NYSE:NVRI) fell 19.9% in the afternoon session after the company reported weak third-quarter earnings. We struggled to find many strong positives in these results. Its EBITDA forecast for the full year missed and its revenue fell short of Wall Street's estimates. Overall, this was a weaker quarter.
The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks. Is now the time to buy Enviri? Access our full analysis report here, it’s free.
What The Market Is Telling Us
Enviri’s shares are very volatile and have had 29 moves greater than 5% over the last year. But moves this big are rare even for Enviri and indicate this news significantly impacted the market’s perception of the business.
Enviri is down 10.9% since the beginning of the year, and at $7.99 per share, it is trading 35.7% below its 52-week high of $12.43 from July 2024. Investors who bought $1,000 worth of Enviri’s shares 5 years ago would now be looking at an investment worth $394.18.
Unless you’ve been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) semiconductor stock benefitting from the rise of AI. Click here to access our free report on our favorite semiconductor growth story.