Why MP Materials Stock Rallied 44% in February
Shares of rare earth miner MP Materials (NYSE: MP) rose a dramatic 44% in February according to data from S&P Global Market Intelligence. That's a huge price gain in a very short period of time, for sure. But the company, which came public via a blank check company in late 2020, was up nearly 180% between its IPO and the end of February, so this month's gain is just a continuation of a trend.
There are two things to note here. First, MP Materials' focus on rare earth metals is tied into the growth of electric automobiles. That's because the metals are a vital component of high-tech magnets needed to make such vehicles, and other devices, work. And this sector is very much in the news today, increasing investor attention on any company that plays into the electrification trend.
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Source Fool.com
