In general, markets are extremely sensitive to news. Knee-jerk reactions provide investors with a good entry opportunity in quality stocks. Vale (VALE) stock seems to be a victim of market overreaction. In June, VALE stock reached its high of $23.18. The stock has since dropped by 38%. (See Insiders' Hot Stocks on TipRanks) There are fundamental factors that have been a catalysts for correction. First and foremost, there were fears of an Evergrande (EGRNF) crisis spill-over. Furthermore, China announced a curb on steel production that translated into a sharp correction for iron ore. However, even with these factors in consideration, VALE stock seems undervalued.
https://www.tipranks.com/news/article/vale-stock-rally-possible-from-oversold-levels?utm_source=advfn.com&utm_medium=referral
Vale (NYSE:VALE)
Historical Stock Chart
From Dec 2021 to Jan 2022 Click Here for more Vale Charts.
Vale (NYSE:VALE)
Historical Stock Chart
From Jan 2021 to Jan 2022 Click Here for more Vale Charts.