Hitachi Construction Shares Drop After $740 Million Block Trade

Hitachi Construction Machinery shares dropped the most in nearly three weeks after major shareholder Hitachi Ltd. sold (offloaded) all of its stake. The move is part of Hitachi’s ongoing asset divestiture plan to refocus on core businesses, a development that is weighing on investor sentiment toward the stock.

Analysis

Hitachi Construction Machinery shares dropped the most in nearly three weeks after major shareholder Hitachi Ltd. sold (offloaded) all of its stake. The move is part of Hitachi’s ongoing asset divestiture plan to refocus on core businesses, a development that is weighing on investor sentiment toward the stock.