Why Peabody Energy Stock Just Dropped Another 12%

Why Peabody Energy Stock Just Dropped Another 12%

Shares of coal miner Peabody Energy (NYSE: BTU) are down heavily in Tuesday morning trading, falling 12.2% through 10:40 a.m. EDT on no apparent news at all. Specifically, coal prices that have been climbing since April (up 67%) spiked particularly sharply over the weekend, rising 9% in Monday trading. Seeing Peabody stock fall on that news is kind of weird.