China, MP Materials and rare earths
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The Pentagon is buying a huge stake in America’s only rare earth mine to secure weapons supplies. 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.
MP Materials soared 50.62 percent on Thursday to hit a new high after sealing a multi-billion-dollar deal with the Department of Defense (DOD) to ramp up the production of rare earth minerals in the
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Zacks.com on MSNMP Materials (MP) Moves 50.6% Higher: Will This Strength Last?MP Materials (MP) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term.
MP stock soars as the U.S. Defense Department becomes the company’s largest shareholder. Investors are still recommended to tread with caution.
As of 10:17 a.m. ET on Friday, shares of MP Materials stock had climbed 6.5%.
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An Historic Public-Private Partnership The U.S. Defense Dept. announced yesterday it was making a multibillion-dollar investment in MP Materials (NYSE:MP), the sole operator of the rare earth mineral mine in California.
James Litinsky, MP Materials chairman and CEO, joins CNBC's 'Squawk on the Street' to discuss the company's deal with the Defense Department, in which the Pentagon will become the largest shareholder in the rare earth miner.