Investing
Add as a preferred source on GoogleThe shift replaced an Underweight rating, while paint-industry volumes were negative in the United States and Europe.
Declining activity in major paint markets was a headwind for titanium dioxide demand as J.P. Morgan raised its rating on Tronox to Neutral Monday, Nov. 9.
Shares of Tronox Holdings plc gained 7.2% that day. J.P. Morgan moved the stock from Underweight to Neutral, when it was trading close to its lowest historical levels.
Tronox makes titanium dioxide pigment. Demand for the material faced pressure as paint-industry volumes were negative in the United States and Europe.
The position involved 96,070 shares and was valued at about $16.99 million when tracked.
Jay Woods of Chase Games identified $50 as the stock’s next chart threshold, with several consecutive closes above it needed.
The board said Jensen Huang supports the inquiry and will cooperate; a separate House request seeks a Nov. 18 briefing.
