Molycorp Shares Hit Record Lows

CNBC reported that the shares of Molycorp Inc. have dropped to record lows after the company stated it required additional financing to cover cash requirements int he coming year.

JPMorgan analyst Michael Gambdardella commented:

This warning by the company is concerning to us, however, as it is tough to determine whether they will be able to raise enough funds and/or at what cost, especially after recent, significant financings.

Click here to read the full CNBC report.