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MP Materials Brings Rare-Earth Production Back to America, but at What Cost?

TheMotleyFool

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MP Materials Brings Rare-Earth Production Back to America, but at What Cost?: https://g.foolcdn.com/editorial/images/742948/neodymium-magnets.jpg

Well, that was certainly a pleasant surprise!

I have to admit, it was with some trepidation that I opened up my online stock portfolio Friday, after rare-earth mining stock MP Materials (NYSE: MP), which I own, reported its Q2 2023 financial results. After all, MP had just reported that, thanks to weak commodities prices, its revenue had fallen by 55% in comparison with Q2 2022 -- and its income for the quarter had collapsed 90%.

Yet instead of selling off, MP Materials stock jumped higher, ending the day up 5.6%. So why did that happen?

Source Fool.com

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