This Steel Company Surged 22%

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Last October, I had Cleveland Cliffs (CLF) as one of my top wish list stocks heading into the 2024 Election.

The stock price was sitting around $9 in March, and insiders were pouring in.

Insider buying

President Donald Trump started ramping up his tariff announcements shortly after, and the markets saw a drop right before April.

One of the reasons I’ve been staying bullish on Cleveland Cliffs during the trade war is simple…

Donald Trump made it abundantly clear that protecting U.S. companies is a cornerstone of his economic policy.

And last Friday – Trump made an announcement that stayed true to his word.

At a rally near Pittsburgh, he said he would raise tariffs on imported steel to 50% from 25%. CLF soared 22% following the announcement a few days later.

CLF Surges 22% on 50% Tariff for Steel Imports

When it comes how I’ve been trading CLF, I’ve been looking at it as a long-term play in The War Room.

CLF is the largest producer of U.S. Steel, and as long as Trump lives up to his promise regarding the steel industry, the stock has the chance to move up more.

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