Why Mechel Stock Popped 13% After Earnings
Shares of Russian coal miner and steelmaker Mechel (NYSE: MTL) are soaring in afternoon trading Thursday, up 13.4% as of 1 p.m. EDT, after the company reported Q1 2021 earnings earlier in the day.
Despite the generally glum tone of the earnings release, investors apparently took an "it could have been worse, and maybe it'll get better?" view of the news, giving Mechel a pass this time.
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Source Fool.com
