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Tenaris (TS) Shares Plunge 6.26% on Grantham Mayo Van Otterloo & Co. LLC Stake Reduction
Generated by AI AgentAinvest Movers Radar
Tuesday, Apr 8, 2025 8:07 pm ET1min read
Tenaris (TS) shares plummeted 6.26% intraday, marking the lowest level since September 2024, with a cumulative decline of 22.17% over the past five days.
One of the key factors contributing to the recent decline in Tenaris's stock price is the reduction of holdings by Grantham Mayo Van Otterloo & Co. LLC. The firm decreased its stake in
S.A. by 31.0% during the fourth quarter, which could have negatively impacted investor sentiment and triggered sell-offs.Additionally, technical indicators played a significant role in the stock's performance. On April 4, Tenaris shares crossed below a key moving average level, which may have activated technical sell signals, prompting traders to sell their holdings and further driving down the stock price.
In premarket trading, Tenaris experienced a 4.3% decrease, potentially in response to recent news events or company-specific announcements. This early morning decline could have set the tone for the day's trading, contributing to the overall negative sentiment surrounding the stock.
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