American ‘wall builder’ stocks knocked down after Trump budget plan

[Elderberry]

Market Watch Mar 16, 2017

In an ironic twist, shares of U.S.-based cement suppliers traded mostly lower Thursday, while Mexico-based Cemex SAB’s stock surged, following President Donald Trump’s request to Congress for over $4 billion to start building a border wall.

Cemex’s U.S.-listed stock CX, -2.66%  rallied 2.6% to close at $9.11, to close up 2% since the election.

As one of the world’s largest makers of building materials, including cement and ready-mix concrete, some had expected the company to benefit the most if Trump followed through on his promise to build a wall on the U.S. border with Mexico, whether he gets Mexico to pay for it or not.

Cemex received 26.5% of its total revenue from the U.S. in 2016, and 20.4% of its revenue from Mexico, according to data provided by FactSet.

Meanwhile, U.S. cement suppliers received virtually all of their revenue from the U.S. last year.

More: https://www.marketwatch.com/story/american-wall-builder-stocks-knocked-down-after-trump-budget-plan-2017-03-16

[Suppressed]

Meanwhile, U.S. cement suppliers received virtually all of their revenue from the U.S. last year.

Funny how 10 years ago, I couldn't get sonic core rigs because they were all being used in resource mapping for cement headed to China.

[kevindavis007]

I thought that Mexico was paying for the wall..