BTU - Peabody Energy's stock sinks for the second day in a row
Peabody Energy (BTU) shares sold off ~10% Friday, after falling 13% during Thursday's trading session. Small cap energy trades, largely ignored by institutional investors, have been under pressure this week, despite sideways commodity price action. Ahead of Q1 results, coal investors are likely focused on management teams' ability to sell into dislocated seaborne energy markets, and sign long-term contracts at elevated prices: Given Peabody's (BTU) run year to date, up 145%, it's not surprising to see investors locking in gains ahead of Q1 results; however, with Europe set to block Russian coal imports, investors could be rewarded with record profits throughout 2022.
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Peabody Energy's stock sinks for the second day in a row