Layoffs Perversely Bump U.S. Steel Stock 10% in Pre-Market Boost

Layoffs Perversely Bump U.S. Steel Stock 10% in Pre-Market Boost 1  PASSIVE INCOME IDEAS BITCOIN AND BLOCKCHAIN

Pink slips are turning US steel stocks green. | Source: Shutterstock By CCN Markets: News of impending layoffs at some U.S. Steel Corporation plants has been greeted warmly by the market. In pre-market hours, the price of the stock has gone up by over 10 percent to reach a unit price of $12.43. At the market close on Monday, U.S. Steel was valued at $11.28. Just last week the stock hit a three-year low of around $10.80. U.S. Steel stock price | Source: TradingView The pre-market rally comes amidst the…