Molycorp: Conversation With Kamakura - What Did Bondholders Tell Us Prior To Q2 Earnings?
- Molycorp's senior and subordinated debt were sending signals prior to Q2 earnings.
- The subordinated notes confirmed that the company was impaired. The senior notes implied a pending event that could leave senior note holders with fewer claims on assets.
- I currently have a sell rating on the stock and own straddles in case bondholders are correct.