This was back in 2015. When a certain "coffee colored" guy was elected the Price of Peabody Coal, symbol BTU, was trading around 1300 a share. Remember all the Protests about climate change and dirty coal? Buses full of people showing up paid for by Soros as he was short the stock. He paid them, they paid him back by helping to drive the price down. Several years later it traded down below 100 and it was later announced that he had covered his short position and had been acquiring stock on the way down. I bought the stock at 3 bucks and got stopped out at 7 after it had popped up. It went back down, I got some more at 2. It went to 0 and was delisted. As noted below, the coal reserves of Peabody alone are hundreds of millions of dollars..All this is done with money that should be in the public purse as he has an ongoing battle with the IRS for not paying up...He and Klaus Schwab vying for Dr. Evil...hard to choose.
George Soros is Investing Millions in Coal
Teresa Matich - August 19th, 2015
george soros
Despite spending millions fighting climate change and funding clean energy, billionaire George Soros now looks to be investing in coal.
Despite spending millions fighting climate change and funding clean energy, billionaire George Soros now looks to be investing in coal.
According to a report from The Guardian, the Soros Management Fund (SMF) has spent over $2 million buying up shares of Peabody Energy (NYSE:BTU) and Arch Coal (NYSE:ACI) since April. Both companies have been under pressure due to falling coal prices, and have seen their share prices fall more than 90 percent over the past year.
Metallurgical coal prices have fallen to near 11-year lows in 2015, while thermal coal futures recently a touched 12-year low of US$52.85 a tonne amid continued oversupply and weakening demand from India and China.
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The situation has gotten so bad that a number of coal producers have recently filed for bankruptcy protection, the latest being Alpha Natural Resources (OTCMKTS:ANRZQ). Walter Energy (OTCMKTS:WLTGQ) and Patriot Coal have also filed for bankruptcy protection this year.
However, for Soros, the situation seems to have created an opportunity. The billionaire’s fund now owns 1 million shares of Peabody and 500,000 shares of Arch Coal. This isn’t the first time Soros has invested in coal either; The Guardian also notes that SMF bought $234.4 million in shares of another major US coal producer, Consol Energy (NYSE:CNX), in 2014. The fund sold those shares a few months later.
The news might be confusing in light of Soros’ efforts to stop climate change. Indeed, he’s donated at least $1 million to the election campaigns of Barrack Obama and Hillary Clinton — both of whom support fighting climate change — and has funded the Climate Policy Initiative think tank.
Some believe he’s investing in coal now to take advantage of cheaply priced stocks ahead of a turnaround in the sector. “It’s possible that Soros is only looking for a ‘dead cat bounce’ from his Peabody and Arch Coal investments, but the companies together have provable coal reserves of about 11 billion tons, worth hundreds of billions of dollars,” said Steve Milloy of Breitbart. “I doubt the shrewd Soros is looking to make just a few million dollars on these investments.”
This was back in 2015. When a certain "coffee colored" guy was elected the Price of Peabody Coal, symbol BTU, was trading around 1300 a share. Remember all the Protests about climate change and dirty coal? Buses full of people showing up paid for by Soros as he was short the stock. He paid them, they paid him back by helping to drive the price down. Several years later it traded down below 100 and it was later announced that he had covered his short position and had been acquiring stock on the way down. I bought the stock at 3 bucks and got stopped out at 7 after it had popped up. It went back down, I got some more at 2. It went to 0 and was delisted. As noted below, the coal reserves of Peabody alone are hundreds of millions of dollars..All this is done with money that should be in the public purse as he has an ongoing battle with the IRS for not paying up...He and Klaus Schwab vying for Dr. Evil...hard to choose.
George Soros is Investing Millions in Coal Teresa Matich - August 19th, 2015 george soros Despite spending millions fighting climate change and funding clean energy, billionaire George Soros now looks to be investing in coal.
Despite spending millions fighting climate change and funding clean energy, billionaire George Soros now looks to be investing in coal. According to a report from The Guardian, the Soros Management Fund (SMF) has spent over $2 million buying up shares of Peabody Energy (NYSE:BTU) and Arch Coal (NYSE:ACI) since April. Both companies have been under pressure due to falling coal prices, and have seen their share prices fall more than 90 percent over the past year. Metallurgical coal prices have fallen to near 11-year lows in 2015, while thermal coal futures recently a touched 12-year low of US$52.85 a tonne amid continued oversupply and weakening demand from India and China. industrial metals outlook cover INNvestor Report on molybdenum, coal, aluminum, tin, and chromium
Get free stocks, market data, forecasts and more!
Give me my free report!
The situation has gotten so bad that a number of coal producers have recently filed for bankruptcy protection, the latest being Alpha Natural Resources (OTCMKTS:ANRZQ). Walter Energy (OTCMKTS:WLTGQ) and Patriot Coal have also filed for bankruptcy protection this year. However, for Soros, the situation seems to have created an opportunity. The billionaire’s fund now owns 1 million shares of Peabody and 500,000 shares of Arch Coal. This isn’t the first time Soros has invested in coal either; The Guardian also notes that SMF bought $234.4 million in shares of another major US coal producer, Consol Energy (NYSE:CNX), in 2014. The fund sold those shares a few months later. The news might be confusing in light of Soros’ efforts to stop climate change. Indeed, he’s donated at least $1 million to the election campaigns of Barrack Obama and Hillary Clinton — both of whom support fighting climate change — and has funded the Climate Policy Initiative think tank. Some believe he’s investing in coal now to take advantage of cheaply priced stocks ahead of a turnaround in the sector. “It’s possible that Soros is only looking for a ‘dead cat bounce’ from his Peabody and Arch Coal investments, but the companies together have provable coal reserves of about 11 billion tons, worth hundreds of billions of dollars,” said Steve Milloy of Breitbart. “I doubt the shrewd Soros is looking to make just a few million dollars on these investments.”