Why Rare-Earth Stocks Are Soaring Today
The Trump administration has opened an investigation that could result in tariffs on rare-earth minerals and other critical materials. The news has the two large U.S.-based rare-earth companies moving higher.
Shares of USA Rare Earth (NASDAQ: USAR) were up 20% and shares of MP Materials (NYSE: MP) were up 12% as of 10:30 a.m. ET following the reports. Energy Fuels (NYSEMKT: UUUU), a uranium producer, is up 10%.
So-called rare-earth minerals aren't very rare, but there is a limited number of companies that are in the business of refining them. It tends to be dirty work and the U.S. has in recent years relied on foreign producers, but that could soon be changing.
Source Fool.com
