Coal stocks, like Peabody Energy (BTU) are still heating up.
After running from about $10 to $25, the BTU stock could test higher highs, especially on news the European Commission will propose banning Russian coal as part of a new round of sanctions. In addition, as reported by The Wall Street Journal:
“Plamen Natzkoff, senior trade expert at VesselsValue, believes that coal companies will generate significant profits and free cash flow with coal prices at historically elevated levels, and producers with resilient portfolios of coal assets and the ability to increase production are likely to be attractive.”
Markets
- The Dow is down 65 points to 34,765
- The S&P 500 is down about nine points to 4,569
- The NASDAQ is down 40 points to 15,124
- Gold prices are up $2.55 to $1,934.02
- Bitcoin is up 2% to $46,939.92
- Oil prices are up $1.22 to $104.50
- The VIX is up slightly to 19.24
Insider Buying: Twitter (TWTR)
By now, you’ve heard billionaire Elon Musk just took a 9% stake in Twitter.
According to CNBC, “Musk owns 73,486,938 shares of Twitter, which represents a 9.2% passive stake in the company, according to a Securities and Exchange Commission 13G filing released Monday. The stake is worth $2.89 billion…”
Musk is also joining Twitter’s Board of Directors, which could bring big improvements.
“Through conversations with Elon in recent weeks, it became clear to us that he would bring great value to our Board,” CEO Parag Agrawal said. “He’s both a passionate believer and intense critic of the service which is exactly what we need on Twitter, and in the boardroom, to make us stronger in the long-term.”