Molibdenos Y Metales S.A. just filed/bought 15,000,000 @$6, along with a 16k ceo buy. i notice mloibdenos bought 50k recently @$8.18. that's on top of their original buy of 4.5M shrs @$10. wow, i never wanted anything to do with mcp again after that last dilution. this looks like a real buy out possible to me. now i will have to buy some.
This is short covering. Almost every stock with high short position is running, as we are near all time highs. Also, about MCP, they have made "show" buys in the past to boost share price. Sleaziest company I have seen. Billionaires making token buys to fool retail, and then selling into it. With Mark Smith, their corrupt former CEO, that was par for the course. Now that he's gone, they may be marginally less corrupt, but this company never made a dime in their previous 25 year incarnation. Company shut down, but then re-opened with "IPO" a couple years back to take advantage of rare earth mania. Mark Smith lied several times outright, and I have no problem saying that publicly. Mark Smith is a liar.
Yes, Molibdenos Y Metales S.A. just made a buy, but they are a multi-billion dollar company, and can just write it off. Watch, it will not hold these gains. If it were shortable, it would not have any gains. There's very little I don't know about this company, so I will not buy it here. It will fall back. Would have been a nice day trade, though. Hindsight is 20/20. If it breaks $10, I would be a buyer. If you got it first thing this morning, that's one thing. You should have already dumped it.