Why Shares of MP Materials Are Ripping Higher Today
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MP Materials shares surged 20.1% following the announcement of a $500 million partnership with Apple to supply rare-earth magnets. This long-term commitment, expanding a five-year relationship, involves sourcing magnets from recycled materials at MP's California facility for use in Apple's products. Shipments are expected to begin in 2027, marking a significant step towards sustainable supply chains. The collaboration aims to enhance innovation in magnet production and recycling technologies, reducing investment risks for MP Materials amid strong market interest.
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