Cleveland Cliffs Inc. (NYSE: CLF) is a mining company and steel producer that has skyrocketed in value, and this trend has continued in extended-hours trading.
Cleveland-Cliffs stock has surged in value and more investors than ever are wondering where to buy CLF stock.
This article lists the best places to buy Cleveland-Cliffs shares and explains why the company is rising in value, and what its future investment prospects look like.
Where to buy Cleveland-Cliffs stock online
For those of you who are wondering how to buy CLF shares, you should sign up to an online stockbroker. These are investing platforms that allow you to build your own portfolio featuring a variety of investment instruments.
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What is Cleveland-Cliffs?
It is a mining and steelmaking company that was founded by Samuel Mather in 1847 in Cleveland, Ohio.
It has grown into the largest flat-rolled steel producer in North America, creating over $5 billion in revenue per annum.
Why is CLF stock on the rise?
Because it has been labelled a ‘meme stock’ by Reddit investment communities like WallStreetBets. This has resulted in a surge of positive market sentiment which has driven the stock to 5-year highs.
Should I buy Cleveland-Cliffs stock?
If you want to gain exposure to volatile stock with high risks and high rewards, which is underpinned by market sentiment and a clear disinterest in fundamental value, it is an intriguing investment proposition.
Just make sure you aren’t investing money that you can’t afford to lose because there is a chance things could go south from here.
Cleveland-Cliffs price prediction
Our CLF price target is in line with that of some of the stock market’s most reputable analysts. We forecast a 12-month high of $33 and a median of $24.50, though it is worth noting that artificial buying forces have already driven the stock up to $24.