Bubble Alert: Rare Element Insider Sales (REE)
Rare Element Resources Ltd. (NYSE/AMEX: REE) is lower ahead of the market open this morning. Late on Tuesday afternoon came a Form D filing showing that insiders of the company had filed for a sale of $8,190,522 worth if stock…
Should this be a shock or a concern? Not really. Rare Element Resources was a mere sub-$2.00 stock in the summer and now shares are trading around $16.00 after closing Thursday at $17.74.
We won’t bother telling you the news behind the move in rare earth elements and rare earth oxides. You have heard it enough, likely over and over.
Shares are down 4.8% at $15.93 on more than 250,000 shares in pre-market trading with just under an hour until the market opens for trading.
JON C. OGG
Contact [email protected] for any questions or corrections.
Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.
