Molycorp (MCP) Shares Jumping; Following US Stockpiling Rumor, CEO Says Not Enough Supply to Meet Demand
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Shares of Molycorp (NYSE: MCP) are rallying in afternoon trade following the CEO's appearance on CNBC just minutes ago. Shares last traded at $40.43, up 5.5 percent from Thursday's close.
Commenting on recent rumors the US may be considering stockpiling rare earths, Molycorp's Mark Smith admitted there is currently not enough supply to meet dmeand. The exec suggested tension would be created if the US began buying up rare earth materials.
Commenting on recent rumors the US may be considering stockpiling rare earths, Molycorp's Mark Smith admitted there is currently not enough supply to meet dmeand. The exec suggested tension would be created if the US began buying up rare earth materials.
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