MP Materials Stock Is Moving Higher: What's Going On?
Portfolio Pulse from Adam Eckert
MP Materials Corp (NYSE:MP) shares are trading higher following reports that China has imposed export restrictions on select rare earth metals, including gallium and germanium, used in semiconductor production, solar cells, and missiles. The restrictions, affecting over 35 other related metals and materials, will take effect from August 1. MP Materials, which produces specialty materials for advanced technologies, is currently expanding its manufacturing operations.
July 05, 2023 | 12:37 pm
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MP Materials Corp's stock is trading higher due to China's export restrictions on select rare earth metals. The company is expanding its manufacturing operations.
China's export restrictions on rare earth metals, which are used in advanced technologies that MP Materials specializes in, could potentially increase demand for MP's products. This, coupled with the company's ongoing expansion of its manufacturing operations, is likely driving the stock price higher.
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