Almost here, your investment advice to this board (sell Cliffs to risk hedge against your pandemic fears) seems to be more catering to “sell your shares to help out the 46 million short interest get cover” while Cliffs financial strength is translating shareholder value into the pps. There is a nice article posted today on Seeking Alpha that explains the particulars behind what is going on with Cliffs financials. You may find that information more useful for your Cliffs investing than your off topic media, pandemic coverage.
My observation for Cliffs is that earnings are situated to deliver $1 billion to $3 billion quarterly EBITDAs through 2022, going into 2023 based on HRC futures pricing and scheduled contract updates for Cliffs customers— the SA article spells out the details. That creates upside pps potential for Cliffs far beyond the current trading range in the $20s pps. As you are stepping forward giving advise to investors to sell, you might consider that Cliffs is positioned for a pps doubling if earnings post as Cliffs has guided for financial analysts (refer to Cliffs PRs posted on their web site). This situation, per the CEO, doesn’t reflect the infrastructure bill, which if passes, serves as LG put it, “frosting on the cake”.