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Strategies & Market Trends : Speculating in Takeover Targets
CTG 10.480.0%3:59 PM EST

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To: Fuzzy who wrote (5690)12/4/2019 1:36:23 PM
From: richardred1 Recommendation

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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. --
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.
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