Celanese Corporation's (CE) stock experienced a sharp decline of 15.22% in the pre-market trading session on Wednesday. The plunge in the specialty materials and chemicals maker's shares came after the company reported a quarterly loss, citing weak demand from the automotive, paints, and industrial sectors.
The challenging demand environment across these key markets has significantly impacted Celanese's financial performance. Analysts expect the weak demand conditions to persist into 2025, further weighing on the company's prospects.
Celanese's management expressed concerns about the prolonged weakness in demand, indicating that the company is grappling with a difficult operating environment. Industry experts anticipate the company's struggles to continue until demand recovers, particularly in the automotive and industrial segments.
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