EUROPEAN CLF – $MT – ANOTHER SLEEPING GIANT
Many of you guys here have made some very good money on the $CLF calls that were made yesterday. It's down a bit today but it definitely still has room to run to $25 very short term and likely $30 in near term.
Another steel stock that is in the exact same position as CLF but as not yet seen a run up is $MT. In late 2020 CLF actually acquired MTs north american steel operations for $1.4 billion dollars. Together they form the largest iron ore pellet producer in North America and they will also dominate the market with profits as they produce steel products throughout the chain as previously seen in the CLF DDs posted before.
July 29 is when the Q2 earnings for MT are released so expect the profit to be seen there as the high steel prices have been in effect for the whole quarter at that point above what they were originally estimated to be.
Like CLF, MT also saw a stock price of $300 a share in 2008 when the steel prices were at a previous all time high which has now been beat.
If you liked the idea of CLF, MT is another great low risk play that you can get into.
Both of these, CLF and MT, have very low risk with a very nice upside short, medium, and long term extending into 2022.
Current position: 500 commons MT
Submitted June 10, 2021 at 05:40PM by dflagella
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