Stock price when the opinion was issued
At a 52-week low today, but he hasn't and won't sell any shares. It looks like steel prices have bottomed--and shouldn't have fallen this far. Their M&A activity is also pressuring shares. Also, the Nippon Steel deal will be blocked; the US Steel deal was botched from the start. Hang onto it--it's below book value. Their M&A will add value. It isn't just a cyclical play.
If you're in a trade war and the world is slowing, commodity stocks (precious metals, steel-oriented) probably get weaker. That's the period we're in now. Probably a buy sometime soon, when we start thinking about recovery on the other end of this. Too early right now to dip a toe.
Pretty good company, one to play at some point.
Cleveland-Cliffs has proven its commitment to not just preserve, but to grow good middle-class, union manufacturing jobs. We continue to fight for our steel industry, our company, our shareholders, and our workers. As we grow, we retain our strong commitment to maintaining a safe work environment for our 30,000 employees. Social media mentions are up 45% in the past 24h.