Molycorp (MCP) Sees Continued Insider Buying
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Days after Molycorp (NYSE: MCP) CEO Mark Smith disclosed the purchase of 20,000 shares, two other insiders disclosed recent purchases.
Director Charles Henry bought 45,192 shares on 11/20 at $6.95-$7.10
VP John Ashburn bought 10,000 shares on 11/19 at $6.20
All the insider purchases come amid an SEC investigation that has sent shares reeling. On November 13th, Morgan Stanley downgraded the stock specifically because of the probe. The firm said that while the worst case scenario is already priced in, given the uncertainty surrounding this issue and the possibility that it will take some time to resolve they are stepping aside.
All the insider purchases come amid an SEC investigation that has sent shares reeling. On November 13th, Morgan Stanley downgraded the stock specifically because of the probe. The firm said that while the worst case scenario is already priced in, given the uncertainty surrounding this issue and the possibility that it will take some time to resolve they are stepping aside.
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