No new catalyst: ALM was down about 6.2%, deeper than the roughly 5.7% pre-market decline earlier, as a sharp risk-off session hit high-beta stocks. The S&P 500 and Nasdaq fell while the VIX rose after the maritime emergency near the Strait of Hormuz; lingering concern over delayed Sandong shipments remained an ALM-specific drag after Stifel cut its price target.
No new catalyst: ALM was down about 6.2%, deeper than the roughly 5.7% pre-market decline earlier, as a sharp risk-off session hit high-beta stocks. The S&P 500 and Nasdaq fell while the VIX rose after the maritime emergency near the Strait of Hormuz; lingering concern over delayed Sandong shipments remained an ALM-specific drag after Stifel cut its price target.