The CEO of one iron company says he's boiling short sellers 'like frogs'

📆 7/19/2019 2:49 PM
📰 BusinessInsider

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The CEO of iron ore producer Cleveland-Cliffs made the statement Friday after the company reported earnings that blew past analyst estimates.

thinks short sellers are in for a rude awakening if they continue to bet against him.

, surpassing analysts' consensus revenue estimate by 22%. The ore producer brought in $743 million and announced it repurchased 13 million shares over the three month period. It also topped Wall Streets' earnings per share estimates, beating the average expectation by about 20%. The odd statement isn't the first from Goncalves. He told a Wells Fargo analyst on a 2014 earnings call"you have a $4 price target and you think we can't sell assets, so I'm going to take the next question, I'm not going to answer you."when addressing analysts who set negative price targets. He told Goldman Sachs analyst Matthew Korn"you are a disaster. You are an embarrassment to your parents.

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