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Also, the stock soared to hit its 52-week high of $26.51 on August 13, on the back of investors’ optimism surrounding the infrastructure bill. However, it has lost 24% since hitting its 52-week high and 16.5% over the past month as China has been taking steps to limit steel production. Moreover, Speaker Nancy Pelosi suggested that the U.S. House of Representatives may not vote on the $1 trillion bipartisan infrastructure bill today. So, CLF’s near-term prospects look uncertain.
Here’s what could influence CLF’s performance in the upcoming months:
