Cleveland-Cliffs (NYSE:CLF) confirmed today what most steel sector observers expected. Strong steel prices helped the company more than double its adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) just since last quarter. The stock soared more than 20% on the news in early trading. Shares remained higher by 15.3% as of 11:35 a.m. ET. Image source: Getty Images.
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