Behold shares of Rare Elements Resources, which had been up 4%, and are now down 11%.
The catalyst, naturally, was the news that China’s “embargo” of rare earths is coming to an end (an announcement hilariously coinciding with the launch of a rare earth ETF).
We noted earlier this month that REE was a company solely based on headlines, that happened to have rights to gold and rare earth elements, but with no actual business.
Well, them’s the breaks.
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