- Soros Fund Management disclosed minuscule (for Soros) stakes in Peabody Energy (BTU +24.6%) and Arch Coal (ACI +42.1%) at the end of last week. Combined, the Peabody holding of 1.03M shares and Arch holding of 533K shares amounted to less than $2.5M versus AUM north of $20B.
- The tiny stakes in the two near-bankrupt coal producers could be thought of as a lottery ticket, or maybe it's just The Palindrome - well known for railing against coal as it pertains to climate change - tweaking his political enemies.
- The stocks of both companies didn't do a whole lot for two sessions after the disclosure, but soared yesterday as Arch Coal was reported on working out a debt swap compromise with its creditors.
- News China could be producing a whole lot less in the way of carbon emissions than previously thought could be sending the two flying higher again today.
- CLD +3.9%, WLB +1.4%, RNO -2.15%, CNX -0.8%, KOL flat
Soros goes bottom-fishing in coal
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Symbol | Last Price | % Chg |
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BTU | - | - |
Peabody Energy Corporation |