Olin Corporation (OLN) Plunges 7.88% to 52-Week Low on Downgrades

Olin Corporation (OLN) shares plummeted 7.88% intraday, marking the fourth consecutive day of decline and reaching its lowest level since November 2020.

Several factors have contributed to the recent downturn in Olin Corporation's stock. Analysts from JPMorgan Chase & Co. recently downgraded Olin's stock from an "overweight" rating to a "neutral," which can negatively impact investor sentiment and stock price. This move by JPMorgan Chase & Co. may have influenced the stock's recent performance, leading to its new 52-week low.

Additionally, Barclays reduced their price target for Olin, suggesting a less favorable outlook on the company's future performance. This reduction in price target by Barclays may have further contributed to the decline in Olin's stock price, as investors reassess their expectations for the company's earnings and growth prospects.