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Compass Minerals International, Inc.

Company NameCompass Minerals International, Inc.
Stock SymbolCMP

On March 25, 2024, Compass disclosed that it had been informed by the United States Forest Service ("USFS") that it will not be entering into a contract for the use of magnesium chloride-based aerial fire retardants for the 2024 fire season, explaining that USFS inspections found that “certain airtankers that had flown Fortress North America's proprietary, magnesium chloride-based aerial fire retardants revealed significant signs of corrosion in areas where build-up of the retardant had occurred" and that "[t]he findings from this more extensive inspection raised aircraft safety concerns.”

On this news, Compass’s stock price fell $3.00, or 17.1%, to close at $14.55 per share on March 25, 2024, thereby injuring investors.

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