🔴 CLF is trading 4.4% down today as post-downgrade selloff continues

CLF is trading 4.4% down at $10.66 as its post-downgrade selloff continues following a Morgan Stanley rating cut.

• Morgan Stanley downgraded the stock to Equalweight from Overweight after a roughly 50% rally, suggesting that steel-price upside is already priced in.
• The shares have been declining for multiple sessions, including a 6.1% drop on June 23, as sentiment remains pressured by the downgrade and broader market concerns.