According to a Bloomberg report, the Pentagon in July agreed to a $400 million preferred equity investment in the company.
MP Materials Corp (MP) shares rose 2% before the bell on Wednesday, with the stock becoming the ninth-most trending ticker on Stocktwits after the company reportedly stated that the investment it received from the Pentagon for the construction of domestic U.S. rare earths capacity would not be easily replicated by other companies.
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According to a Bloomberg report, the Pentagon agreed in July to a $400 million preferred equity investment in MP, following the U.S. concern about industrial shutdowns triggered by China's curbs on exports of rare earth magnets.
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