Is MP Materials Stock a Millionaire Maker?
One of the problems with story stocks is that Wall Street has a shockingly short attention span. It wasn't too long ago that MP Materials (NYSE: MP) was a headline-grabbing company. Now, given the roughly 45% decline in the stock price, it seems like investors have moved on. Is it a millionaire maker, or has the story behind this stock played out?
MP Materials is building a business around the mining and processing of rare-earth metals. These metals are vital to modern technology, as they are used in a wide range of applications, from cellphones to missiles. The second example is important. Certainly, we all desire affordable and powerful modern cellphones, but countries must ensure they have access to high-tech military hardware to protect their citizens.
Image source: Getty Images.
Source Fool.com
