Steel Stock Slides as Results Disappoint

Cleveland-Cliffs Inc (NYSE:CLF) stock is plummeting today, down 11.3% at $11.63 at last glance, after the company's disappointing third-quarter report. The steel giant posted losses of 33 cents per share, larger than analysts' anticipated losses of 31 cents per share, and revenue below expectations. Headed for its largest single-day percentage loss since a 14.7% drop in February of 2021, the stock is on the short sell restricted (SSR) list today amid the volatility. Prior to today's gap lower, the shares we ...