HomeArcelorMittal stock up 200% in a year: is now the right time to buy?

ArcelorMittal stock up 200% in a year: is now the right time to buy?

ArcelorMittal (AMS: MT) is one of the best-performing stocks of 2021, consistently surging in value.

The last week has seen a wave of short squeeze stocks being targeted by Reddit investors. If you are a little tired of this unpredictable and volatile narrative, why not consider investing in a steadily accretive stock that has produced consistent returns for investors since the turn of the year: ArcelorMittal.

So, this page digs a little into the company’s investment proposition. We explain what exactly it does, the best places to buy ArcelorMittal shares, and whether now is the right time to invest.

Where to buy ArcelorMittal stock online

The best place to invest in MT shares is a reliable stockbroker. Ideally, you want to choose one with a favourable fee structure, no hidden cost implications, a great user support team and plenty of available financial instruments. The two options below contain all of these features:

CedarFX

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eToro

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What is ArcelorMittal?

It is a multinational steel manufacturing corporation that is based in Luxembourg. MT was formed in 2006 via a takeover and merger of Arcelor with Indian steel company, Mittal Steel. The company is now worth in excess of €30 billion, making it one of the biggest names in the steel production sector.

Should I buy MT stock now?

If you have some disposable income lying around doing nothing for you, and you want to risk some capital with the chances of sizeable returns, MT could be a great buy given it has risen by 200% in a year.

With COVID-19 lockdowns coming to an end, new construction projects are commencing and accelerating, and steel will play a crucial role in the manufacturing renaissance.

Just make sure you never invest money that you can’t afford to lose and always do your own due diligence.

MT price prediction

Our ArcelorMittal price target is a 12-month high of $49, with a median of $39 and a low of $31. Considering the company is trading at just above its median target for now, there appears to be plenty more room to grow in the coming months.

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