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Why Coal Stock Peabody Energy Is Bouncing Back After a Sharp Drop

·2 min read
Why Coal Stock Peabody Energy Is Bouncing Back After a Sharp Drop
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Coal stock Peabody Energy (NYSE: BTU) went on a wild ride this morning, crashing 10% right when the markets opened only to rebound sharply. It appears the market quickly realized its knee-jerk reaction to the coal miner's third-quarter numbers was unwarranted. None of those numbers should have come as a surprise given that Peabody Energy had already announced preliminary Q3 numbers earlier in the month and reported in line today.