January 15, 2009

New 52 Week Low for Mechel

The Fool has featured several articles lately that have included Mechel, a Russian coal and steel miner. Shares have been down over 90% from their 52 week high and are trading at nearly $3.00 a share. Why?

As explained here, the price of coal and steel as well for its demand have put pressure on shares. The low $3.00 may be a good entry point for this stock.

For what its worth, Cramer likes the stock up to $6.00

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