incompetent analyst causes ree crash, page-11

Find it interesting, that from the Molycorp press release regarding their fund raising earlier this year, that a certain J.P. Morgan Securities LLC appeared to be one of the joint book-runners for the issue.

Wonder if they may now be off Molycorp's Christmas Card List. Must have been a nice % from the issue of 11.5m shares at $51.00 each, though.

Reads:


Molycorp Announces Pricing of Secondary Offering of 10,000,000 Shares of Common Stock




GREENWOOD VILLAGE, Colo., Jun 09, 2011 (BUSINESS WIRE) -- Molycorp, Inc. (NYSE:MCP), the Western hemisphere's only producer of rare earth oxides, today announced that its selling stockholders priced a public offering of 10,000,000 shares of Molycorp's common stock (the "Common Stock") at a price per share of $51.00. The selling stockholders have granted the underwriters an option to purchase up to an additional 1,500,000 shares of Common Stock. The Common Stock offering is expected to close on June 15, 2011, subject to customary closing conditions.

Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC are acting as joint book-running managers for the offering. The offering is being made only by means of a prospectus. When available, copies of the prospectus relating to the offering may be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, Second Floor, New York, NY 10014 (email address: [email protected]) or J.P. Morgan Securities LLC; c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717.

This press release shall not constitute a solicitation of an offer to buy, nor shall there be any sale of the Common Stock in any state in which such offer, solicitation, or sale would be unlawful prior to the registration or qualification under the securities laws of any such state.