Molycorp (MCP) Sinks Further as Traders See Dilutive Equity Raise
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Traders are chatting about a dilutive equity raise for Molycorp, Inc. (NYSE: MCP) based on earlier commentary in the S&P downgrade of the debt.
From the downgrade - "With lower than expected operating performance, we do not expect the company to generate sufficient cash from operations during the remainder of 2012 to fund the shortfall, and we believe that it will have to seek funding alternatives or slow its capital spending."
Shares are down 5 percent to $12.25 into the close.
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From the downgrade - "With lower than expected operating performance, we do not expect the company to generate sufficient cash from operations during the remainder of 2012 to fund the shortfall, and we believe that it will have to seek funding alternatives or slow its capital spending."
Shares are down 5 percent to $12.25 into the close.
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