MCP up big since Monday...

S

SaigonTed26

Hi All,

Out of curiosity today I checked to see whatever became of MCP (Molycorp) and noticed that it is up 67% to 89 cents, as of writing this. The biggest piece of news I saw on it was that Siemens and MCP made a 10 year deal to supply the rare earth materials in future Siemens high-efficiency wind turbine generators. With that said, is the jump most likely due to a short covering, or is it perhaps due to people thinking the fundamentals are changing for the better? Or maybe both? Also, I noticed the daily volume is now at 31.3 million, versus an average daily volume of 5.6 million shares.

Thanks! :)
 
Likely it's the "all things China chase and this one hasn't moved all that much yet".

"Dance with the Devil and hope to leave the party before the music stops". ??

MCP traded at what, $80/sh? Now trading for pennies? If you want to make a big speculation, looks like an "option play with no expiration date". OK to take a shot... sometimes this sort of thing actually works.
 
Scataphagos said:
Likely it's the "all things China chase and this one hasn't moved all that much yet".

"Dance with the Devil and hope to leave the party before the music stops". ??

MCP traded at what, $80/sh? Now trading for pennies? If you want to make a big speculation, looks like an "option play with no expiration date". OK to take a shot... sometimes this sort of thing actually works.
More...


yea in 2011 it was trading around 70 and change, now under a 1....
 
Thanks for the replies! I agree with both of you, it can be a good spec play, but not something you should invest in as a sizable portion of your portfolio. Yeah man, that's crazy it used to trade around $70 a share, now it's around $1.
 
You must log in or register to reply here.
Back
Top