|RE-CLF -Nice rebound from yesterday on the initial merger news. BTW CLF is a Scion Capital/ Mike Burry stock pick. I've noticed TMST- TIMKENSTEEL CORPORATION is moving today to. IMO if this deal works out. I think it's possible a friendly deal of TMST could work out down the road? |
Cleveland-Cliffs Stock Slumped on the AK Steel News. Investors Just Might Be Wrong. -- Barrons.com
BY Dow Jones & Company, Inc.
— 8:23 AM ET 12/04/2019
7 Stocks Michael Burry ('The Big Short') Loves Michael Burry, depicted by Christian Bale in 2015's "The Big Short," and his top stock holdings.
7 Stocks Michael Burry ('The Big Short') Loves
Cleveland-Cliffs ( CLF)
After a steep fall in August, shares of this domestic iron ore miner are underperforming the market year-to-date, up only 8% as steel and iron ore prices have plummeted due to the potential for a global economic slowdown. Despite the share price weakness, Cleveland-Cliffs just announced a 20% dividend hike and a one-time special dividend of 4 cents per share. Cleveland-Cliffs shares now trade at a miniscule 5.2 forward earnings multiple. Scion holds 1.1 million shares of CLF stock worth about $11.7 million.