What Happened?
Shares of steel and waste handling company Enviri (NYSE:NVRI) jumped 27% in the afternoon session after the company announced it agreed to sell its Clean Earth business to Veolia for $3.04 billion in cash and spin off its remaining businesses.
As part of the deal, Enviri shareholders were expected to receive between $14.50 and $16.50 per share in cash. In addition, shareholders would retain full ownership of the Harsco Environmental and Rail businesses through the creation of a new, separate publicly traded company. Enviri also planned to use the proceeds to repay approximately $1.35 billion of its existing debt. This move was intended to leave the new spun-off company with a stronger balance sheet. The transaction, which was unanimously approved by both companies' boards, was anticipated to close by mid-2026, pending shareholder and regulatory approvals.
The shares closed the day at $17.36, up 28% from previous close.
Is now the time to buy Enviri? Access our full analysis report here.
What Is The Market Telling Us
Enviri’s shares are very volatile and have had 21 moves greater than 5% over the last year. But moves this big are rare even for Enviri and indicate this news significantly impacted the market’s perception of the business.
The previous big move we wrote about was 3 days ago when the stock dropped 3.3% on the news that concerns regarding lofty artificial intelligence valuations triggered a pullback in the technology sector.
Nvidia slid 3% ahead of its earnings report, dragging down fellow "Magnificent Seven" peers despite a major partnership announcement with Anthropic, as investors increasingly question the durability of the AI rally. Market sentiment was further dampened by Bitcoin dropping below $90,000, signaling reduced risk appetite, and growing anxiety that the Federal Reserve may pause rate cuts in December, with the implied probability of a cut falling to roughly 50%. Adding to the weakness, Home Depot shares declined following an earnings miss and a cut to its full-year outlook. This combination of continued de-risking and valuation skepticism put the S&P 500 on pace for its fourth consecutive daily decline.
Enviri is up 108% since the beginning of the year, and at $17.24 per share, has set a new 52-week high. Investors who bought $1,000 worth of Enviri’s shares 5 years ago would now be looking at an investment worth $966.09.
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