MP Materials’ Stock Price Hits New High – Pentagon Becomes Largest Holder
MP Materials’ stock price (NYSE: MP) has soared today, adding 46% at the latest look. The company, operator of the only active rare earth mine in the United States, is experiencing a seismic shift in its trajectory following a landmark agreement with the U.S. Department of Defense (DoD).
The DoD’s $400 million investment in MP Materials’ preferred stock, announced today, will make the Pentagon the company’s largest shareholder and send ripples throughout the rare earth element (REE) market. MP’s stock is now more than 170% above where it began the year.
The investment comes at a pivotal moment. The United States has long been heavily reliant on foreign nations, particularly China, for its supply of REEs.
In 2023, China accounted…
