WASHINGTON (dpa-AFX) - Air Products and Chemicals, Inc. (APD) fell 10.63%, dropping $27.71 to $232.98, after the company announced it is in 'advanced negotiations' with Yara on low-emission ammonia projects, a move that appears to have unsettled investors wary of potential risks or delays tied to the agreement.
Despite the ambition of the proposed ammonia projects, the lack of final agreement details seems to have triggered investor caution. The company's projected growth and transition strategy may now face increased scrutiny as stakeholders await clarity on terms and timelines.
On the day of the announcement, APD experienced unusually heavy trading volume as markets responded to the news and possible exposure to project uncertainties. The stock's 52-week range is approximately $205.40 - $295.60.
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