Why MP Materials Stock Jumped 10% Today
Shares of rare-earths mining company MP Materials (NYSE: MP) took off like a rocket on Monday, rising 10.3% through 1:15 p.m. ET. It's not earnings that did this, however; the second-quarter earnings report isn't due out until next week.
Instead, it was the S&P and the investors who watch it.
As announced late on Friday, after close of trading for the week, the S&P Dow Jones indexes plan to add MP Materials stock to the MidCap 400 index on Wednesday morning, July 27. The stock will replace outgoing Sanderson Farms, which just got gobbled up by Cargill and Continental Grain and is no longer publicly traded.
Source Fool.com
