Friday, August 3, 2012

What's Moving: Molycorp Inc -28.75% (MCP)

From What's Trading:
Molycorp (MCP) isn’t participating in today’s rally. The stock is off $4.53 to $11.54 on heavy volume of more than 15 million shares after the company reported an unexpected loss for the quarter and revenues also fell short of expectations. Making matters worse, the rare metals company said it is seeking to secure financing to cover expenditures because cash flow from operations was less than anticpated. The stock is reeling and options volume is running 4.5X the daily average. 22,000 calls and 32,000 puts traded so far....MORE