Iran Risk Mitigation Causes Shock... 1.4 Trillion Disappears from Fertilizer Stocks in a Day

CF Industries Holdings Inc. (NYSE: CF) saw its shares plunge 5.5% to close at $120.97 on the New York Stock Exchange, wiping out roughly $970 million of market value—about₩1.4 trillion—in a single day. Volume reached approximately 2.6 million shares, bringing the company’s total market capitalization to around $18.5 billion (roughly₩27 trillion).

Market observers say the sell-off was driven by investors repositioning ahead of the Q1 earnings release and mounting concern over weak nitrogen fertilizer and ammonia prices. After the market close, CF Industries reported a first-quarter 2026 net income of $615 million and adjusted EBITDA of $983 million—underscoring its strong profitability—but noted that growing optimism over a U.S.-Iran peace deal has put downward pressure on the fertilizer and chemical sector premium.

Headquartered in Illinois, CF is one of the world’s largest producers of nitrogen fertilizers and ammonia, leveraging low-cost North American natural gas to supply agricultural and industrial fertilizers around the globe. In January, Christopher J. Boss took the helm as CEO, and at the recent annual shareholders’ meeting, investors reaffirmed their confidence in the current management team by approving board seats, executive compensation, and auditor appointments.