MP Materials Joins S&P MidCap 400 Following Landmark Deals

MP Materials, the Western Hemisphere’s largest producer of rare earth elements, commenced trading as a component of the S&P MidCap 400 index yesterday. The stock experienced significant volatility on its first day in the new index, with shares fluctuating between $69.53 and $73.29 before settling to close at $73.22.

This index inclusion, which reflects the company’s substantially increased market capitalization, is expected to generate additional investor demand. The move necessitates that institutional funds and ETFs designed to track the index now purchase the stock, potentially establishing a new, stable base of investors.

The remarkable ascent culminating in the S&P listing is largely attributed to two major agreements secured earlier this year.

• Defense Department... Read more...