MP Materials stock soars
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The United States' need to secure a domestic supply of rare earth materials is a major driver for MP Materials stock. The recent Department of Defense partnership is great news for the company. Shares of rare earth materials and magnets company MP Materials (NYSE: MP) rose by 113.
MP Materials Corp. (NYSE:MP) is one of the stocks Jim Cramer shared his thoughts on. The company was mentioned by Mad Money’s host during the episode, and here’s what he had to say: “This morning, MP Materials announced that the Defense Department’s taken a big stake in their company,
On Thursday, the United States Department of Defense (DOD) entered a major deal with MP Materials. The DOD agreed to buy $400 million of MP Materials newly created preferred shares stock. The move will make the U.S. military the company’s largest stakeholder. In the hours after the deal, the company’s stock surged more than 50%.
In a decisive action to bolster the U.S. supply chain for rare earth magnets—essential elements for fighter jets, missiles, and electric vehicles—the
Shares of the little-known mining company soared on Thursday on news that the Pentagon would become the largest shareholder.