The coal industry has hit hard times.
This summer several coal companies, including Alpha Natural Resources and Patriot Coal, filed for bankruptcy.
St. Louis-based Peabody Energy, the world’s largest private coal company, is not immune. The coal giant’s share price has fallen nearly 97 percent in the last five years. The company recently did a reverse stock split, bundling 15 shares into one in order to avoid share prices going below $1.
Peabody Energy spokesman Vic Svec said as a commodity business, they’re used to the volatility.