Why Peabody Energy Is Plunging Today
Shares of Peabody Energy (NYSE: BTU) had plunged by 16.2% as of 1:04 p.m. Monday, though there was no fresh news relating specifically to the coal giant.
Prior to the pullback, its shares had more than doubled this year, with much of that growth coming after Russia invaded Ukraine. Russia is the world's third-largest coal exporter. Peabody, as the largest coal producer in the U.S., is expected to benefit both from the sanctions being imposed on Russia and from broadly rising energy prices.
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Source Fool.com
