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Molycorp (MCP -19.3%) plummets at the open after projecting lower-than-expected revenue and cash...

Molycorp (MCP -19.3%) plummets at the open after projecting lower-than-expected revenue and cash flow this year due to weakening rare earth prices. J.P. Morgan cuts its price target on shares to $5 from $8: "We continue to believe MCP will likely have to seek additional capital beyond just a revolver and/or equipment leaseback." AVL -3.9%, REE -3.1%.
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Comments (2)
  • Daveintosa
    , contributor
    Comments (142) | Send Message
     
    Economist SQM out of Chile works better! GO PACK GO!!!!
    10 Jan 2013, 11:15 AM Reply Like
  • Michael Bryant
    , contributor
    Comments (5618) | Send Message
     
    Someone told me I should cover my short as (MCP) surged to $12 from $8. I told him I didn't even own (MCP), but thought it will underperform the market. Even if it stays flat and the market rises 8% this year, it still underperformed the market. My point is why hold on to something that may very likely underperform another asset. There are better fish in the sea. Make the most of your money.
    10 Jan 2013, 01:01 PM Reply Like
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