NAK - Why Northern Dynasty Minerals Stock Plummeted 55% at the Open on Aug. 24
Shares of Northern Dynasty Minerals (NYSEMKT: NAK) lost more than half their value in early trading on Aug. 24. Although the stock quickly regained a portion of that drop, the price was still off by 45% at roughly 10 a.m. EDT.
The big driver was a news release from the company that coincided with the start of the Republican National Convention. Essentially, the would-be miner announced that it had launched an advertising and outreach campaign to push for the approval of its giant Pebble copper and gold project. That mine, which is still in the permitting process, is basically the only asset Northern Dynasty owns.
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