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20.10.2020 17:05:00

Why Rayonier Advanced Materials Stock Jumped 11% at the Open Today

Shares of Rayonier Advanced Materials (NYSE: RYAM), which makes high-purity cellulose specialty products, rose an impressive 11.7% in the first half hour of trading on Oct. 20. By 10 a.m. EDT, however, the price had pulled back to around 6.5%. There were no material updates from the company, but one Wall Street investment house revised its view of the stock.RBC Capital Markets upped Rayonier from sector perform, which is basically a hold rating, to outperform. As investors often do, they took that research house update as a reason to buy the stock. The problem here is that the company isn't exactly hitting on all cylinders. Image source: Getty Images.Continue reading
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