Railcar builder stocks tumble following PHMSA NPRM comment period
Written by William C. Vantuono, Editor-in-ChiefShares of The Greenbrier Companies and Trinity Industries fell 10.2% and 7.7%, respectively, in afternoon trading on Wednesday, Oct. 1, 2014, one day after the deadline for final comments on the U.S. DOT Pipeline and Hazardous Materials Administration’s Notice of Proposed Rulemaking on tank cars carrying flammable liquids. Wall Street analysts attributed the stock plunge (which also affected American Railcar Industries, down 5.8%) to investor wariness over an “oil tank car rule fight.”
