Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Kronos Worldwide, (NYSE:KRO) were up as much as 11% after its majority owner died.
So what: Harold Simmons, who owns over 80% of Kronos Worldwide through multiple entities passed away over the weekend. Simmons was a controversial figure who battled with regulators and was a political powerhouse, sometimes overshadowing his businesses.
Now what: Kronos may have been a leader of consolidation in titanium oxide under Simmons but now the company could be sold or look for other strategic options. At the very least, there will be a new leader at the helm and for today investors think that will unlock more value than Simmons could. Time will tell if that's the case.
Fool contributor Travis Hoium has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.