Molycorp Shares Drop 11% to Record Low in New York Trading

Molycorp Inc. (MCP), the rare-earth producer that said last week it’s being investigated by U.S. Securities and Exchange Commission, dropped to a record low.

Molycorp fell 11 percent to $6.67 at 9:57 a.m. in New York trading.

The Greenwood Village, Colorado-based company said in a Nov. 9 filing that it’s being probed by the SEC over the accuracy of its public disclosures. The SEC requested information from Molycorp in August, the company said in statement later that day.

To contact the reporter on this story: Sonja Elmquist in New York at selmquist1@bloomberg.net

To contact the editor responsible for this story: Simon Casey at scasey4@bloomberg.net

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