Mechel Shares Got Crushed: What You Need to Know (MTL)

Mechel Shares Got Crushed: What You Need to Know

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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Russian steel miner Mechel (NYSE: MTL ) melted down today, falling as much as 10.6% on above-average volume.

So what: Mechel is suffering from the Greek drama, as the company supplies a large market across Europe. Fellow European steel giant ArcelorMittal (NYSE: MT ) also opened 10.6% down this morning, showing exactly how worried investors are about a potentially stalled trans-European economy.

Now what: Predicting economy swings and Greek votes is a lowercase fool's errand. Sadly, these things will continue to have a direct effect on Mechel's share prices. That being said, Mechel recently reported a stable pricing outlook and trades near 52-week lows for about five times trailing earnings. If you have any faith at all in Europe making a comeback, this would be the perfect time to start a Mechel position.

Interested in more info about Mechel? Click here to add it to My Watchlist.

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Fool contributor Anders Bylund holds no position in any of the companies mentioned. We Fools may not all hold the same opinion, but we all believe that considering a diverse range of insights makes us better investors. Check out Anders' holdings and bio, or follow him on Twitter and Google+. We have a disclosure policy.

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