MP Materials Stock Surges on S&P MidCap 400 Inclusion

Shares of MP Materials, a leading producer of rare earth elements, gained significant momentum following the announcement of its inclusion in the S&P MidCap 400 index. The Las Vegas-based company will join the benchmark on September 22, prompting a 1.2% share price increase to $66.81 accompanied by elevated trading volume exceeding 10.8 million shares.

This development adds to what has already been an extraordinary year for the mining specialist, whose stock has appreciated more than 300% since January.

The company’s remarkable transformation began in July with a landmark agreement with the U.S. Department of Defense. The Pentagon invested $400 million in preferred shares, establishing itself as MP Materials’ largest shareholder through this strategic partnership.

A crucial component of this arrangement involves... Read more...