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Why Peabody Energy Stock Plunged 23.1% on Tuesday

Why Peabody Energy Stock Plunged 23.1% on Tuesday

Shares of coal producer Peabody Energy (NYSE: BTU) fell as much as 23.1% in trading on Tuesday after some of the euphoria in the stock yesterday wore off. Shares of the coal energy stock jumped yesterday because warmer than normal weather is expected in the U.S., which caused a jump in natural gas prices on hope that supply would exceed demand. More importantly, coal power plants across the country have been shut down for good, and there's going to be less demand for coal in the future.