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Wajeeh Khan

The $1 Billion Reason Why Cleveland-Cliffs Stock Is Up Today

ClevelandCliffs CLF DOE Middletown

Cleveland-Cliffs (CLF) shares are pushing higher on Friday after the steelmaker announced a $1 billion investment in its Middletown Works facility in Ohio. In its press release, the NYSE-listed company also confirmed that about half of its modernization project is supported by the U.S. Department of Energy (DOE).

The announcement arrives at a time when Cleveland-Cliffs stock is starved of investor interest, currently down about 15% versus the start of this year.

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