CLF Stock Garners Retail Attention Amid CEO Share Dump, Tariff Uncertainty

• This represented about $37.3 million in value, and almost half the total number of shares that Goncalves owned in the company. 
• A report from Financial Times earlier on Friday indicated that the Trump administration was considering lowering tariffs on steel and aluminum products. 
• However, other reports have said that White House officials denied the reduction, saying that there would be no alterations to the tariffs unless the president announced the changes himself, as per TheFly.

Cleveland-Cliffs Inc. (CLF) drew significant retail interest on Friday amid a significant share sale from the company’s CEO as well as growing uncertainty around steel tariffs.

Retail chatter on Stocktwits around CLF shares surged more than 707% in the last 24 hours, according to data from Friday morning, even as sentiment jumped from ‘bullish’ to ‘extremely bullish’ territory.

Shares of CLF have plunged more than 20% in the past five days.

Share Sale And Tariff Doubts

A filing with the U.S. Securities and Exchange Commission from Feb. 11 revealed that CEO Lourenco Goncalves had sold 3 million shares of the steelmaker for about $12.42 each.

This represented about $37.3 million in value, and almost half the total number of shares that Goncalves owned in the company. The sale raised concerns among investors about the future of the company.

Meanwhile, growing uncertainty about steel tariffs weighed on the company’s shares. A report from Financial Times earlier on Friday indicated that the Trump administration was considering lowering tariffs on steel and aluminum products. Last year, President Donald Trump levied a 50% tariff on steel and aluminum imports in a bid to address Chinese oversupply.

However, other recent reports have said that White House officials denied the reduction, saying that there would be no alterations to the tariffs unless the president announced the changes himself, as per TheFly.

How Did Stocktwits Users React?

Despite the declining share prices, retail sentiment around CLF shares jumped from ‘bullish’ to ‘extremely bullish’ territory over the past 24 hours.

One user said that there was ‘zero chance’ that Trump would scale back steel tariffs, and encouraged buying the dip.

Another bullish user suggested a long hold on the company, saying that for the next 2-3 years, nobody would be able to afford to dump low-margin products on America.

A third user suggested that the company needed new leadership while another user speculated whether the share sale was because the CEO was planning to step down.

Shares of CLF have declined more than 8% in the past year.

For updates and corrections, email newsroom[at]stocktwits[dot]com.

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