MP Materials, Defense Dept
Digest more
China, MP Materials and rare earths
Digest more
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.
1d
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.
As of 10:17 a.m. ET on Friday, shares of MP Materials stock had climbed 6.5%.
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.
Explore more
MP Materials (NYSE: MP) is up 50% today after an announcement that the Department of Defense is buying $400 million of preferred stock in the company. This will make the Pentagon the largest shareholder here.
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.
The Department of Justice announced a $400 billion investment in MP to fund a huge rare earths processing plant expansion. In conjunction, the DoD agreed to a long-term purchase agreement with a minimum price and volume commitments.