I can think of 3 manufacturers. Nucorp, AK Steel, US Steel.
The latter, is trading at 2x earnings and has 26% of their stock short. Very odd....
Is it possible that the short side is politically motivated, could it be Soros?
Steel stocks, have been torched over the last 18 months, while they have been profitable.
Correction, it is Nucor, not Nucorp
The other Steel company you did not to mention is Steel Dynamics, STLD. They are an interesting company in the sense that they make steel strictly by recycling old Steel. In other words, no Blast Furnace, no coal, No Coke Ovens. I believe Nucor is the most efficient traditional manufacturer. As for US Steel, I have a varied opinion. I cannot figure out whether US Steel is perhaps fatally burdened with old facilities, and will at some point declare a strategic bankruptcy because they have pensions that go back to decades ago. I just do not know the answer to that question.
Blue Horseshoe loves Anacot Steel
and Arcelor Mittal, worlds largest steel producer with 12 facilities in the US.
“The latter, is trading at 2x earnings and has 26% of their stock short. Very odd....”
Yes, very odd indeed. I bought some.