MP Materials stock soars
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The deal, announced on Tuesday, guarantees Apple a steady flow of rare earths and magnets free from China, the world's largest producer.
MP Materials (MP) +6.2%, Ramaco Resources (NASDAQ:METC) +10.7%, and USA Rare Earth (NASDAQ:USAR) +7.8% pre-market Wednesday a day after Apple reached a $500M deal to buy rare earth metals from MP. The Apple-MP deal follows shortly after MP (MP) agreed to a ...
However, it’s not just the government rushing to ensure rare earth supply. Apple (NASDAQ: AAPL) has one-upped the Pentagon by announcing a $500 million agreement with MP Materials to secure recycled rare earth magnets.
MP Materials Corp., a rare earth materials company, is seeing its stock price rise on news of a major commitment from tech giant Apple.
MP Materials, the operator of the only rare earths mine in the United States, has signed a $500 million deal with Apple.