Nucor Corp Stock Price Increases Following Investment and Tariff Decision
Nucor Corp, a leading American steel manufacturer, reported a 1.4% increase in its stock price on August 18. This rise outpaced its competitors in the sector.
The increase follows a significant investment by Berkshire Hathaway, led by Warren Buffett, which disclosed a $1.8 billion stake in Nucor, among other companies. This investment may have contributed to the company’s improved stock performance.
The US Commerce Department’s decision to hike steel and aluminium tariffs on imported products may also have a positive impact on Nucor’s business. The company benefits from increased demand for domestic steel production, which is likely to be driven by the tariff decision.
Key Developments:
- Nucor Corp’s stock price rose by 1.4% on August 18
- Berkshire Hathaway disclosed a $1.8 billion stake in Nucor, among other companies
- US Commerce Department hiked steel and aluminium tariffs on imported products