Why MP Materials Stock Soared Today
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MP Materials' stock surged 50.6% following a new deal with the U.S. Department of Defense, which aims to develop a domestic rare earth magnet supply chain. The DOD is investing a multibillion-dollar package, including a $400 million purchase of preferred stock convertible to common shares, making it the largest shareholder. This partnership is seen as a significant step in reducing reliance on foreign sources for rare earths, prompting investor enthusiasm. However, potential investors may consider waiting for a market pullback before buying into the stock.
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