Watch CRML, MP Stocks Closely: Trump Says Greenland’s ‘Two Dog Sleds’ Not Enough To Hold Off China, Russia Threat

The President reiterated on Sunday that the U.S. needs to acquire Greenland because otherwise Russia or China could take over the territory due to its lack of defense.

• Greenland hosts critical minerals used in the development and production of tech, defense, and EV products. 
• Shares of Critical Metals gained in after-hours trade due to its Greenland-based Tanbreez project.
• MP Materials’ stock also edged higher on broader supply-chain alignment.

Shares of Critical Metals (CRML) and MP Materials (MP) gained in overnight trading on Sunday following comments by President Donald Trump that the U.S. needs to acquire Greenland because its defense of “two dog sleds” won’t be enough to hold off the threat of China or Russia.

"I haven’t done that. Greenland should make the deal because Greenland does not want to see Russia or China take over," he told reporters on Sunday night aboard Air Force One when asked about acquiring Greenland and any potential offer to Denmark. "Basically, their defense is two dog sleds. You know that? You know what their defense is? Two dog sleds.”

CRML’s stock jumped 4.5% in after-hours trade after rallying more 11% to close at a nearly three-month high of $14.98 on Friday. Retail sentiment around the stock trended in ‘extremely bullish’ territory over the past day, accompanied by ‘extremely high’ levels of chatter.

While MP’s stock also saw retail sentiment trending in ‘extremely bullish’ territory, retail chatter dipped to ‘high’ from ‘extremely high’ levels over the past day. The shares moved 0.61% higher in after-hours trading after a 1.54% gain on Friday. 

Why Are CRML And MP Stocks Rallying?

Greenland hosts critical minerals used in the development and production of tech, defense, and EV products. Meanwhile, Critical Metals holds the Tanbreez project, one of the world's largest rare earth deposits in Greenland. Trump’s proposed acquisition of Greenland would boost its valuation because the U.S. would gain direct control over these strategic assets. 

MP Materials doesn’t have a project in Greenland, but it is the largest rare earth producer in the U.S. Control of rare earths would indirectly benefit the company as the country reduces its reliance on China. 

Trump pointed to Russian and Chinese destroyers and submarines in the region that pose a threat to Greenland’s independence. "We’re not going to let that happen, and if it affects NATO, then it affects NATO. But, you know, they need us more than we need them, I will tell you that right now," he stated.

Meanwhile, Danish Prime Minister Mette Frederiksen views Trump’s threats to take over Greenland as the U.S. potentially turning its back on NATO. She reportedly said that Denmark is at a “fateful moment” regarding the Western alliance.  The foreign ministers of Denmark and Greenland, Lars Løkke Rasmussen and Vivian Motzfeldt, are scheduled to meet U.S. Secretary of State Marco Rubio later this week in Washington.

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