Nucor Falls 20% in 3 Months: Should You Buy, Sell or Hold the Stock?

Nucor Corporation’s (NUE) shares have lost 20.2% in the past three months compared with the Zacks Steel Producers industry’s decline of 34.4%. The downward spiral reflects the choppiness in the steel space underpinned by the significant pullback in U.S. steel prices, which has led to a downward revision in NUE’s earnings estimates.NUE is currently trading at a roughly 39% discount to its 52-week high of $203 reached on April 9, 2024. Technical indicators show that NUE has been trading below the 50-day simpl ...