Freeport-McMoRan Sheds 30% Of Its Value In 45 Days; Can It Outperform Post Coronavirus?

Freeport-McMoRan Sheds 30% Of Its Value In 45 Days; Can It Outperform Post Coronavirus?

Freeport-McMoRan 's (NYSE: FCX) stock is very likely to outperform the broader S&P 500 index post coronavirus and oil price war crisis, going by the trends seen during the 2008 slowdown, where it fell 72% from the approximate pre-crisis peak in 2008, and recovered by a whopping 164% by early 2010.. With copper contributing almost 50% of FCX's revenue, copper prices have a much larger effect on FCX's stock.. Going by the trends seen during the 2008 economic slowdown, it's likely that Freeport-McMoRan's stock could bounce back strongly and potentially outperform the market as the crisis winds down.. Freeport-McMoRan's stock declined by about 20% between 8th March 2020 and 13th March 2020, and the stock is down by about 32% since February 1, after the WHO declared a global health emergency.. Through the crisis, FCX stock declined by as much as 72% from its approximate pre-crisis peak.. While Freeport-McMoRan's stock has declined due to the Coronavirus/Oil Price War crisis, going by trends seen during the 2008 slowdown, it's likely that it could bounce back strongly and potentially outperform as the crisis winds down.. Led by MIT engineers and Wall Street analysts, Trefis (through its dashboards platform dashboards.trefis.com) helps you understand