Rumors On Rare Earth Stocks (MCP, REE, SHZ)
Benzinga is hearing unconfirmed rumors that the BTIG LLC trading desk is saying that rare earth names like Molycorp NYSE: MCP), Rare Elements Resources (NYSE: REE), China Shen Zhou Mining & Resources Inc. (AMEX: SHZ), and Avalon Rare Metals Inc. (AMEX: AVL) are eerily similar to the internet mania of the late 1990's and early 2000, and are due for a sell-off.
Shares of these companies are continuing to move sharply higher today, led by a 7% move upwards in Molycorp.
Keep in mind that this is an unconfirmed rumor and Benzinga is merely reporting what we are hearing.
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