Cleveland-Cliffs Inc. (NYSE: CLF) is one of today’s biggest gainers and has gained significant traction with the investing community on social media. In the last few days, many investors have been wondering how to buy Cleveland-Cliffs shares online; that’s where Invezz comes in.
This article explains everything you need to know about the company, including what it does, what its investment prospects are and why it is growing in value. In addition, we have listed the best places to buy CLF stock below so you can get involved yourself.
Where to buy CLF stock online
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If you want to invest in CLF, your best option is to use a reliable stockbroker. These are regulated low-fee platforms that are extremely popular for retail investors. Simply sign up, fund your account with fiat money, then search for CLF shares and buy some.
However, different brokers come with different advantages and disadvantages. Our team of analysts have been hard at work to list the best places to buy Cleveland-Cliffs stock in the UK and elsewhere. We have settled on the two platforms below as our top picks:
1) eToro
As one of the world’s most popular online brokers, eToro allows investors to gain inexpensive exposure to companies like Cleveland-Cliffs, as well as a variety of other stocks, cryptocurrencies, commodities and other financial instruments.
2) Plus500
Plus500 is the ideal platform if you want a little more flexibility. It offers CFD trading services, meaning you can gain exposure to the value of CLF shares without having to buy them outright.
You can also check out our comparison of the top brokers and trading platforms this year for more options.
What is Cleveland-Cliffs Incorporated?
Founded by Samuel Mather in 1847 in Cleveland, Ohio, the company was originally known as Cliffs Natural Resources. It specialises in the mining, beneficiation, and pelletising of iron ore, and it also has a significant steelmaking division, including both tooling and stamping.
CLF is currently the largest flat-rolled steel producer in all of North America, generating over $5 billion in annual revenue.
Why is CLF’s stock price rising?
Often, you can attribute a company’s share price growth to positive news or financial results, but that is not the case on this occasion. Instead, the popular Reddit community, WallStreetBets, has designated CLF as a ‘meme stock,’ meaning that retail investors are driving the value of the stock up.
Should I buy CLF shares?
Provided you recognise that right now, the fundamental value of Cleveland-Cliffs is not the focus, and you are comfortable dealing with risk and volatility, Cleveland-Cliffs could be a good investment proposition for you. Just make sure you don’t invest money you can’t afford to lose and keep a close eye on market sentiment.
Will CLF shares make me rich?
This is highly unlikely, though if this market has shown us anything this year, it is that remarkable and unanticipated things are possible.
CLF price target
Our Cleveland-Cliff price target is in line with the consensus of the top analysts: a 12-month high of $33 and a median of $24.50.
Social media reacts to $CLF
For all the latest on Cleveland-Cliffs and other trending stocks, check out the Invezz stock news section.
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