Commodities & Metals
Bubble Alert: Rare Element Insider Sales (REE)
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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 from directors and executives. There was no impact late in the day due to rare earth mineral interest, but shares are getting hit this morning.
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
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