Molycorp Shares Hit by Stock Sale

Molycorp’s (NYSE:MCP) stock has been hammered in the past week, losing 26.4 percent over the past five days. Las Vegas Review-Journal reported that the stock sale on Tuesday “blindsided investors from two angles even though it had filed a preliminary prospectus more than a year ago.”

As quoted in the market news:

The terms, subject to completing the transaction on Monday, call for selling new shares at $5 each, the lowest price since the all-time low of $4.88 in April.

Read the full article on Las Vegas Review-Journal here