Celanese Shares Plummet Following Major Restructuring Announcement

Celanese Corporation is facing significant market pressure as its stock value declines sharply in response to newly announced restructuring initiatives. The specialty chemicals company has encountered multiple challenges simultaneously, triggering investor concern and analyst downgrades.

Financial markets delivered a clear verdict on Celanese’s recent announcements. On October 28, the company’s shares dropped 4.6 percent, followed by an additional 6.0 percent decline on October 29. The stock price settled at approximately $41.20, reflecting widespread investor disappointment with the company’s strategic direction.

The bearish sentiment wasn’t universal among major investors, however. Wealthfront Advisers substantially reduced its stake by 45.4 percent, selling 40,165 shares. In contrast, AlphaQuest dramatically increased its position, expanding its holdings by Read more...