Angelica Ballesteros
1 min read
In This Article:
MP Materials Corp. (NYSE:MP) is one of the Double-Digit Winners: 10 Stocks Crushing The Market.
MP Materials surged by 23.5 percent week-on-week, ending Friday’s trading at $37.74 versus the $30.55 apiece on June 13, as investor sentiment was buoyed by growth opportunities expectations amid the limited supply of rare earth minerals globally.
In recent weeks, rare earths took center stage amid calls from automakers and semiconductor companies for China to loosen up rare earth exports, saying that it has significantly impacted production operations.
Despite China’s promise to ease up, experts feared that global supply cuts would continue to be an ever-present threat.
MP Materials Corp. (NYSE:MP), on the other hand, could take advantage of the limited global supply, as industries look to other suppliers to support production operations.
Heavy machinery at work in a mining facility, excavating the earth for rare earth minerals.
MP Materials Corp. (NYSE:MP) is the only rare earths mining company in the US. During the peak of the US and China’s trade war earlier this year, the company halted shipping operations to China to avoid hefty tariffs on its goods.
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READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. This article is originally published at Insider Monkey.
