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Schnitzer Steel Industries Surrenders Most Of Early Gains After Q3 Beat

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Schnitzer Steel Industries, Inc. (NASDAQ: SCHN) shares are trading higher by only 20 cents at $21.80 in Monday's session.

Before the open, the company reported line Q3 EPS along with a revenue beat of $77.5 million.

That report instigated a much higher opening print of $23.60. Unfortunately for investor, that has turned out to be the high for the session. That high coincides with its March 6 high of $23.55.

Since reversing course, the stock has found intraday support at the top of Friday's range ($21.65) and is attempting to reenter the $22.00 handle.

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