This past month Cleveland-Cliffs has taken its shareholders for a thrill ride prompted by its surprise yet friendly takeover of AK Steel, a major buyer of the company’s iron ore pellets, which it announced on December 3rd.
After the announcement, CLF’s shares closed ~11% down, re-traced its losses almost back to its pre-deal levels, but has since fell again to USD 7.84 as of this writing. This deal-related volatility is creating an interesting opportunity to pick up undervalued shares in the Cleveland-Cliffs of the future.
An opportunity that could be worth over 50% from today’s