Alcoa: Look What Merrill Lynch’s Downgrade Did

BofA Merrill Lynch downgraded shares of Alcoa (AA) today–and caused its shares to tumble more than 6%. A lower price isn’t the only impact from the downgrade, however, as implied volatility in its shares has also jumped. Interactive Brokers’ Andrew Wilkinson explains: Associated Press Bank of America Merrill Lynch cut [Alcoa's] rating from “buy” to [...]