Mosaic stock jumps 7% as Hormuz supply shock lifts fertilizer prices
Mosaic shares jumped 7.5% to $31.35 late Thursday as fertilizer stocks rallied on fears that Strait of Hormuz disruptions will tighten global supplies. The S&P 500 fell 1.5%. CF Industries and Nutrien also surged. Mosaic’s move followed weak Q4 results and comes as U.S. phosphate demand remains soft.