Should You Expect These Underperforming Stocks To Bounce Back? Vringo, Inc.(NASDAQ:VRNG) and Molycorp Inc(NYSE:MCP)
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Vringo, Inc.(NASDAQ:VRNG) lost twenty-four cents during yesterday’s trading as the stock fell to a new closing price of $1.16. The 17.14% decrease in value is disappointing news for the New York-based intellectual property company. The stock appeared to be climbing out of its current disappointing position after gaining $0.52 on the Aug. 18th and 19th trading days to move above its three month closing price low of $0.88.
The company first reached its $0.88 low due to the U.S. appeals court’s decision to reject I/P Engine’s, a Vringo, Inc.(NASDAQ:VRNG) subsidiary, patent claims against several companies. Previously, I/P Engine had won a jury verdict against Google and was awarded over $30 million. Stockholders did not respond positively to the U.S. Court of Appeals’s decision to reject both patent claims, as the stock had remained fixed in the $3 range prior to the ruling.
Molycorp Inc(NYSE:MCP) fell nine cents during yesterday’s trading, a 4.43% decrease in value that moved the stock to a closinng price of $1.94. The 4.43% decrease in value is just as disappointing for the Colorado-based rare earth mining company as yesterday’s result were for Vringo.
Molycorp had likewise appeared to be climbing out of its disappointing hole, reaching a value of $2.36 on Aug. 8th after having traded below the $2 mark on numerous occasions over the past three months. However, it appears that Molycorp’s fortunes have turned for the worse.
Nevertheless, Molycorp remains a heavily traded stock as the company had a trading volume of 6,167,666 yesterday. This figure is substantially higher than its three month average trading volume of 4,492,470.
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I have alerted companies that rallied 100% or even 6,000% (not even joking) in under a week. Likewise, I have alerted companies that tanked 10, 20, sometimes even as much as 30 or 40%. However overall it is about the net result that delivers profits into your portfolio.
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