Nordic steel giant SSAB exceeded February 2024 levels this week and briefly hit an ATH of 7.760 (Wednesday’s closing price 7.590).
Shares bought 1 year and 1 month ago showed a return of +107% (now +78%).
It has come down from the peak very quickly, about -14% in a couple of days. Does anyone have any insight into what is causing such swings?
AI? 
Ukraine? At least for the last couple of days, it has moved in a different direction than European defense companies.
Edit: Thyssenkrupp released its results yesterday and the share price dropped -12%. Salzgitter and ArcelorMittal are also down. I assume it’s related to this.
Edit (Sun Feb 15): and all these price movements could be related to this:
It seems quite speculative, perhaps more volatility ahead.