Diamonds and Dogs

1/20/22

Alcoa (AA) and aluminum pricing doing well. Alcoa is up 6% to new highs as the stock has tripled in the last year as the price of aluminum has risen 50% over the past year. Alcoa is benefiting from strong demand as aluminum will play a big part in the solution of decarbonizing the world while at the same time, China has curbed aluminum smelting capacity to reduce carbon emissions in their country.

Peloton (PTON) continues its decline. Peloton is down 17% after dropping 27% to a two-year low. The company is halting Bike production for two months, from February to March due to slowing demand. It already halted production of its more expensive Bike+ in December and will do so until June. It won't manufacture its Tread treadmill machine for six weeks, beginning next month. And it doesn't anticipate producing any Tread+ machines in fiscal 2022, according to the documents. Peloton had previously halted Tread+ production after a safety recall last year.