Why Alcoa Stock Skyrocketed to 52-Week Highs Today
Alcoa (NYSE: AA) shares are on fire Friday, jumping as much as 14% as of 10:45 a.m. EDT and hitting 52-week highs of $55.89 a share. Given the recent developments in the aluminum industry, I have been upbeat about Alcoa's prospects for several weeks now and expected to see record quarterly numbers from the aluminum giant. Alcoa didn't disappoint: It reported its highest-ever quarterly net income of $337 million for the third quarter, driven by 10% growth in revenue.
