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Why Shares of MP Materials Bounced 15% Higher in the First Half of 2021

·2 min read
Why Shares of MP Materials Bounced 15% Higher in the First Half of 2021
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Renewable energy stocks figured prominently on investors' minds in 2020, and MP Materials (NYSE: MP), a producer of rare earth minerals used in EVs, wind turbines, and other advanced technologies, was no exception. After MP Materials completed its merger with Fortress Value Acquisition in November, shares of its stock skyrocketed, soaring more than 113% through the rest of 2020. Although the pace of their steep climb slowed, shares of MP Materials continued to bound higher through the first half of the year and rose 15%, according to data from S&P Global Market Intelligence.