Why MP Materials Stock Is Tumbling Today
Shares of MP Materials (NYSE: MP) plunged more than 13% by 2:45 p.m. EDT on Tuesday. Weighing on the rare earth mining company stock was a bearish report published by Grizzly Research.
Grizzly Research took a swipe at MP Materials. It published a research report titled: "MP Materials: Rare Earth Shenanigans in the Chamath-Backed Company Will Likely Cost Investors Dearly." It noted that the company sold itself to investors by touting that it was the biggest rare earth producer in the Western world. That made it the only logical competitor to Chinese producers.
Image source: Getty Images.
Source Fool.com
