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The rally in infrastructure stocks has stalled (VMC, MLM, GVA, X)
The rally in infrastructure stocks has stalled. US Steel, MLM, VMC, GVA.
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When Trump won the election, infrastructure stocks soared, with the S&P 500 Materials sector gaining nearly 13% before topping out at the beginning of March.
Standout infrastructure stocks like Martin Marietta Materials and Vulcan Materials popped almost 18% in the days following the election, and US Steel saw its share price double by February.
However, the rally did not last long. All of these stock have given up a portion of their post-election gains. If you missed the initial rally and bought any of these stocks after November 23, in anticipation of President Donald Trump's, "yuge" infrastructure plan, you have lost money.
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US steel has been particularly volatile with massive initial gains, yet the stock has gone down 23% since its February 21 high of $41.57. On Wednesday, US Steel is down more than 8% to $31.85 amid investor concerns that Trump's infrastructure spending could be put on the back-burner until healthcare is solved.
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