Rare earth stocks rally
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Shares of rare-earth miner MP Materials have left Wall Street in the dust. One analyst is playing catch-up.
On Thursday, the United States Department of Defense (DOD) entered a major deal with MP Materials. The DOD agreed to buy $400 million of MP Materials newly created preferred shares stock. The move will make the U.S. military the company’s largest stakeholder. In the hours after the deal, the company’s stock surged more than 50%.