Why MP Materials Rallied Today
Shares of MP Materials (NYSE: MP) rallied on Friday, up 13% as of 12:53 p.m. ET.
MP Materials has become a highly strategic company in the U.S., especially after July, when the U.S. Department of Defense directly invested $400 million in the rare-earth elements miner, while also committing to purchasing future output at certain price floors.
Rare-earth elements are critical materials used in a variety of industrial and military electronics applications, so MP Materials has since moved higher whenever geopolitical tensions rise and the subject of critical materials comes to the forefront.
Source Fool.com
