Cleveland-Cliffs Stock Drops 7.5% In A Week – Here’s What You Should Know

by Trefis Team
-7.58%
Downside
24.44
Market
22.59
Trefis
CLF
Cleveland-Cliffs Inc.
Rate   |   votes   |   Share

Cleveland-Cliffs stock (NYSE: CLF) dropped 7.5% over the last 5 trading days (1 week). This was mainly after China’s announcement that it plans to cut its crude steel production. This would mean low demand for iron ore due to which this announcement led to almost a 10% drop in global iron ore prices in the last one week. CLF’s rivals like Vale and Rio Tinto, along with major steel companies, also bore the brunt of this announcement with their stock prices dropping. In comparison to CLF’s 7.5% drop, the broader S&P 500 decreased 3.6% over the last 5 trading days. Now, is CLF stock set to decline further or could we expect some recovery? We believe that there is a 52% chance of a rise in CLF stock over the next month (21 trading days) based on our machine learning analysis of trends in the stock price over the last 5 years. See our analysis on CLF Stock Chances Of Rise for more details.

5D: CLF -7.5%, vs. S&P500 -3.6%; Underperformed market

(15% likelihood event)

  • Cleveland-Cliffs stock declined 7.5% over a 5-day trading period ending 1/31/2021, compared to broader market (S&P500) decline of 3.6%
  • A change of -7.5% or more over 5 trading days is a 15% likelihood event, which has occurred 183 times out of 1256 in the last 5 years

10D: CLF -6.9%, vs. S&P500 -1.3%; Underperformed market

(43% likelihood event)

  • Cleveland-Cliffs stock declined 6.9% over the last 10 trading days (2 weeks), compared to broader market (S&P500) decline of 1.3%
  • A change of -6.9% or more over 10 trading days is a 43% likelihood event, which has occurred 537 times out of 1240 in the last 5 years

21D: CLF 5.6%, vs. S&P500 -0.4%; Outperformed market

(6% likelihood event)

  • Cleveland-Cliffs stock rose 5.6% the last 21 trading days (1 month), compared to broader market (S&P500) decline of 0.4%
  • A change of 5.6% or more over 21 trading days is a 6% likelihood event, which has occurred 80 times out of 1198 in the last 5 years

What if you’re looking for a more balanced portfolio instead? Here’s a high-quality portfolio to beat the market, with over 100% return since 2016, versus 55% for the S&P 500. Comprised of companies with strong revenue growth, healthy profits, lots of cash, and low risk, it has outperformed the broader market year after year, consistently.

 

See all Trefis Price Estimates and Download Trefis Data here

What’s behind Trefis? See How It’s Powering New Collaboration and What-Ifs For CFOs and Finance Teams | Product, R&D, and Marketing Teams

Rate   |   votes   |   Share

Comments

Name (Required)
Email (Required, but never displayed)
Be the first to comment!