Why USA Rare Earth Stock Soared This Week
Shares of USA Rare Earth (NASDAQ: USAR) jumped this week, up from last Thursday's close at 1 p.m. ET for the Fourth of July holiday by 10.4% as of 1:30 p.m. ET Friday. The rise came as the S 500 (SNPINDEX: ^GSPC) and Nasdaq-100 both gained 0.6%.
USA Rare Earth stock jumped -- alongside most of the critical mining industry -- after MP Materials announced yesterday it had inked a major deal with the Department of Defense (DoD).
The Trump administration, which has been considering direct investments in companies that mine materials essential to U.S. national security, pulled the trigger, taking a $400 million stake in rare earth mining company MP Materials.
Source Fool.com
