, Columnist
Glencore's Coal Black Hole
The company must do more to escape the gravitational pull of falling prices.
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Everyone loves the comeback kid, and they don't come much comeback-ier than Glencore.
The commodities trader had a market capitalization north of $55 billion in May before plummeting to less than $15 billion in September. It was still languishing at those levels in late January when the current bull market in mining stocks sent it soaring. At its last close before annual results were announced Tuesday morning, the stock had gained 87 percent in just five-and-a-half weeks.