- Molycorp (MCP) +5.3% premarket after Oaktree Capital Management discloses a 9.1% stake, or nearly 24.5M shares, in the company.
- Last month, Oaktree agreed to provide MCP up to $400M in financing through credit facilities and the sale and leaseback of equipment at the company's Mountain Pass facility.
- MCP shares had slumped to a new 52-week low yesterday, and have plunged 76% YTD.