Coal Stocks are Down 75% (the World Doesn’t Need Coal Anymore?)

The DJ Coal Index was recently down ~75% off its proximate highs.

Two similar declines have happened over the past decade in front of material rallies.

Does the world no longer need coal?  Permanent structural changes because of how cheap Nat Gas is?

Or, with ACI up ~45% in a few weeks, did they just get way too oversold?

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