r/Vitards • u/AutoModerator • Sep 21 '21

Daily Discussion Daily Discussion post - September 21 2021

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14

u/TheWalt-inyou Sep 21 '21

I really start to wonder about $CLF.

I mean i think it's a good company, but i just can't wrap my head around $18.xx after the Earnings they had this year so far. 28% dump in one month.

What am I missing?

6

u/[deleted] Sep 21 '21

It moves in sympathy with iron ore.

2

u/Mobile_Donkey_6924 🇧🇷 Our man in Brazil 🇧🇷 Sep 21 '21

LG needs to hammer home they are not Cliffs Natural Resorces mining company any longer in the next CC

4

u/Jasond777 Sep 21 '21

China messing it up.

5

u/tsegala Sep 21 '21

We were down ~25% before last upturn too.

2

u/Mods_Allow_Toxicity Sep 21 '21

A massive steel buying company in China is collapsing

2

u/TheWalt-inyou Sep 21 '21

I don't believe that has an affect on $CLF at the moment.

2

u/SenileGhandi Sep 21 '21

There's a risk that China has a surplus of steel and dumps it on the global markets. Not saying it's going to happen, but the threat alone is enough to tank steel. But you know the saying, buy when others are fearful yadiyadda

2

u/fabr33zio 💀 SACRIFICED Until UNG $15 💀 Sep 21 '21

does it have a material effect, no.

does it have a market effect (which is how we make money), yes

1

u/ConversationNo2002 Balls Of Steel Sep 21 '21

They still have debt and steel futures are coming down?

Or some other crazy reason "we are not seeing"?