Photo: Flickr / Steve Whis
Stocks are mostly up today (Apple who?), but two key groups are seeing the air get let out.First is the rare earth companies. Both MolyCorp and Rare Elements Resources are down, as MolyCorp’s lockup ends tomorrow, and insiders will be able to sell.
Last week shares of MolyCorp got absolutely crushed in anticipation of this.
The other bubble? Chinese internet stocks.
Shares of Dang-Dang and Youku are both down today, as the quiet periods on both expired without a huge wave of downgrades from bank clients.
And in the case of Dang-Dang, we kind of have to wonder whether the CEO shot himself in the foot with his uge rant against Morgan Stanley. According to CNBC, Morgan Stanley analysts haven’t said a thing.