The $1 Billion Reason Why Cleveland-Cliffs Stock Is Up Today
Cleveland-Cliffs (CLF) shares experienced a rise on Friday, after the steelmaker disclosed a $1 billion investment in its Middletown Works facility in Ohio. The company disclosed that the majority of its modernization project is backed by the U.S. Department of Energy (DOE). Cleveland-Cliffs stock has been struggling for investor interest, currently down around 15% since the beginning of the year. The announcement arrives at a time when the stock is seeking attention.
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