Reported about 7 hours ago
MP Materials Corp. (NYSE:MP) experienced a remarkable 50.62% surge in stock value after securing a multi-billion-dollar agreement with the Department of Defense to boost rare earth mineral production in the U.S. This deal includes the construction of a new magnet manufacturing facility and guarantees a decade-long purchase agreement for all produced magnets, ensuring profitability for both MP Materials and the DOD. With a strategic investment and projected operational expansion, MP Materials is set to play a vital role in the U.S. defense supply chain.
Source: YAHOO