Why MP Materials Took Off Today
Shares of MP Materials (NYSE: MP), the biggest miner of U.S. rare earth metals, and also involved in rare earth refining and magnet manufacture, surged to close up 7.7% Monday.
Why? Well, over in London, trade representatives from China and the U.S. are meeting to discuss lowering tariffs tensions in general, and in particular, to discuss easing export restrictions on rare earths from China, to be imported into the U.S.
You would think this would be bad news for MP Materials stock, as those imports will compete with its own production!
Source Fool.com
