Canadian National Railway Train Derails, Evacuations Underway: What's Going On?

Canadian National Railway Company CNI shares traded slightly lower Thursday following reports of a train derailment in Matteson, Illinois.

The Details:

According to an ABC7 Chicago report, a Canadian National Railway train has derailed in Matteson, Illinois. No injuries were immediately reported, however, a "white powdery substance" was seen leaking from one of the derailed train cars. 

According to the report, a CN spokesman said about 10 cars carrying “various substances” derailed. A spokesperson for the village of Matteson said residents are under a mandatory evacuation order and should  “plan for a long-term evacuation” and “take any medication and supplies” they may need. 

Canadian National Railway shares are moving lower on heavy trading volume after the reported derailment. 

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Should I Sell My CNI Stock?

When deciding to hold on to or sell a stock, investors should consider their time horizon, unrealized gains and total return.

Shares of Canadian National Railway have decreased by 2.53% in the past year. An investor who bought shares of Canadian National Railway at the beginning of the year would take a loss of $8.67 per share if they sold it today. The stock has fallen 5.2% over the past month, meaning an investor who bought shares on May 1 would see a capital loss of $5.19.

Canadian National Railway shares have an all-time high of $136.63, representing 17.01% upside from current levels.

Investors may also consider market dynamics. The Relative Strength Index can be used to indicate whether a stock is overbought or oversold. Canadian National Railway stock currently has an RSI of 34.23, indicating neutral conditions.

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CNI Price Action: According to Benzinga Pro, Canadian National Railway shares are down 0.76% at $117.34 at the time of publication Thursday.

Image: Courtesy of Canadian National Railway Company