Shares of MP Materials Corp. (MP) gained nearly 20% on Monday after driven by reports that President Donald Trump will soon announce an executive order allowing the U.S. to stockpile critical rare earth minerals and metals mined from the Pacific Ocean floor.
MP is currently trading at $27.17, up $4.49 or 19.78%, on the Nasdaq. The stock opened its trading at $25.19 after closing Friday $22.68. The stock opened its trading at $10.02 and $28.30 in the past 52-week period.
The Financial Times reported Saturday that Trump's executive order will mean the U.S. government can build a "strategic reserve" for critical minerals necessary for EV motors and other advanced technologies.
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