Not my position just sourced from Wall St Bets
$Cleveland-Cliffs (CLF.US)$
STEEL IS BACK ON THE MENU BOYS! DD into CLF, and why a new all time high is possible soon. OG Wsber's might remember the good ol' steel beam play $CLF, which made some rich fuckers on its bull run last year. I'm here today to remind and tell some og's and newbs about the play. CLF (Cleveland-Cliffs) is a U.S. steel producer currently with a **$11 bil market cap at a 3.6 P/E**. Yea that's right, 11 bil, this isnt a shit pennystock. Clf competes with Nucor (NUE) sitting at a whopping **$37 bil at a P/E of 5.2,** admittedly it's a stronger company, and deserves its spot at the top. So, why not nue then? It literally just hit a new all time high today, and is arguably overextended, with volume dropping off a cliff from late 2021. While clf isn't at the level of nue yet, it's barely known, has strong fundamentals, and has room to grow, currently at a close of $21.21 at 10% on the day, it's about 25% off its 52 week high of 26.51. While the last quarters earnings were a miss at 1.76 vs ~2.05 expected, fundamentals are still strong. **2021 revenue was $20.4 bil at a net income of $3 bil. Strong long term, arguably undervalued as fuck and here's why:** On the last earnings call, the CEO Lourenco Goncalves announced a **$1 billion** share buyback program. About 10% of the float is available to be bought for the year. Quote from the chad CEO in reference to how the buyback will go: "Our company should be returning money to the shareholders. Buying back stock is a tax‐efficient way to reward long‐term shareholders instead of allowing them to be at the mercy of the opportunistic, of the mercy of the ones that don’t understand. So let's see how stupid the market is, that will dictate how aggressive i will be". **TLDR: The Ceo is going long, and betting (up to) $1 billion on his play. I'm going along for the ride, and hoping to make some fucking money.** My position is pretty poverty and i fucked up on the timing (tried to play earnings, but the miss kinda fucked me) so theta is going to hurt, but anyways **my (not financial) advice would be long on shares for the pusses, May 20 calls for longer exposure, or March 18 calls if you want to yolo with me.** [Position: 3/18 21 Call](https://imgur.com/a/cz8mjbj)
STEEL IS BACK ON THE MENU BOYS! DD into CLF, and why a new all time high is possible soon. OG Wsber's might remember the good ol' steel beam play $CLF, which made some rich fuckers on its bull run last year. I'm here today to remind and tell some og's and newbs about the play. CLF (Cleveland-Cliffs) is a U.S. steel producer currently with a **$11 bil market cap at a 3.6 P/E**. Yea that's right, 11 bil, this isnt a shit pennystock. Clf competes with Nucor (NUE) sitting at a whopping **$37 bil at a P/E of 5.2,** admittedly it's a stronger company, and deserves its spot at the top. So, why not nue then? It literally just hit a new all time high today, and is arguably overextended, with volume dropping off a cliff from late 2021. While clf isn't at the level of nue yet, it's barely known, has strong fundamentals, and has room to grow, currently at a close of $21.21 at 10% on the day, it's about 25% off its 52 week high of 26.51. While the last quarters earnings were a miss at 1.76 vs ~2.05 expected, fundamentals are still strong. **2021 revenue was $20.4 bil at a net income of $3 bil. Strong long term, arguably undervalued as fuck and here's why:** On the last earnings call, the CEO Lourenco Goncalves announced a **$1 billion** share buyback program. About 10% of the float is available to be bought for the year. Quote from the chad CEO in reference to how the buyback will go: "Our company should be returning money to the shareholders. Buying back stock is a tax‐efficient way to reward long‐term shareholders instead of allowing them to be at the mercy of the opportunistic, of the mercy of the ones that don’t understand. So let's see how stupid the market is, that will dictate how aggressive i will be". **TLDR: The Ceo is going long, and betting (up to) $1 billion on his play. I'm going along for the ride, and hoping to make some fucking money.** My position is pretty poverty and i fucked up on the timing (tried to play earnings, but the miss kinda fucked me) so theta is going to hurt, but anyways **my (not financial) advice would be long on shares for the pusses, May 20 calls for longer exposure, or March 18 calls if you want to yolo with me.** [Position: 3/18 21 Call](https://imgur.com/a/cz8mjbj)
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