🚀🚀🚀 Cleveland-Cliffs ($CLF) 🚀🚀🚀 CEO Lourenco Goncalves being an absolute savage exclusively to CNBC
Cleveland-Cliffs ($CLF) CEO Lourenco Goncalves being an absolute savage exclusively to CNBC about his earnings conference call where he berated analysts. Goncalves defends his behavior and says he’s different than other CEOs.
Steel prices have tripled in the past year, with industry overheads remaining largely stable save for the price of Iron Ore, which has also ran up significantly. Fortunately, CLF produces their own Iron Ore, so they are literally pooping out money as they reap the benefits of vertical integration.
Steel prices are the highest they’ve ever been – nearly every single steel company is going to report their greatest quarter in history this summer.
A combination of high short interest, low float, increasing call volume and volatility expansion (leading to IV expansion) will force Market Makers to delta and gamma hedge and shorts to capitulate themselves into a death spiral.
ps: I’m not a financial advisor
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June 10, 2021 at 11:35AM