Cleveland-Cliffs Stock Just Keeps Dropping. Buying Opportunity, or a Sign to Steer Clear?

Shares of Cleveland-Cliffs (NYSE: CLF) have fallen about 60% from their highs in 2022. That's a crushing price pullback, but hardly surprising given the sector in which Cleveland-Cliffs operates. The steel industry is known for being highly cyclical, and that dramatically changes the equation for investors.Here's why this sell-off could be a buying opportunity in Cleveland-Cliffs -- and why more conservative investors will probably prefer one of the company's main competitors, Nucor (NYSE: NUE).Steel is a crucial industrial metal. It goes into buildings and roads, heavy equipment, automobiles, and machinery. All of these things are costly items that tend to be purchased more often during good economic times. During recessions, spending on big-ticket items is usually curtailed.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool