Why MP Materials (MP) Is Skyrocketing?

We recently published a list of 10 Stocks Jump on Impressive Earnings, Bullish Outlooks. In this article, we are going to take a look at where MP Materials Corp. (NYSE:MP) stands against other stocks that have surged on impressive earnings and bullish outlooks.

The stock market ended firmer on Tuesday, with all of Wall Street’s main indices finishing in the green territory amid news that President Donald Trump temporarily delayed the imposition of tariffs against Canada and Mexico.

The Dow Jones inched up by 0.30 percent, while the S&P 500 and Nasdaq both jumped 0.72 percent and 1.35 percent, respectively.

On Tuesday, 10 companies under mixed sectors mirrored the broader market rally, fueled by impressive earnings results and optimistic business outlooks, among others. This article details the reasons behind the top gainers’ impressive performance.

To come up with Tuesday’s top gainers, we only considered those with $2 billion in market capitalization and $5 million in daily trading volume.

Heavy machinery at work in a mining facility, excavating the earth for rare earth minerals.

MP Materials Corp. (NYSE:MP)

MP Materials Corp. (NYSE:MP) rose for a fourth consecutive day on Tuesday, jumping by 10.08 percent to end at $24.47 apiece, as investors took heart from President Donald Trump’s imposition of tariffs on imports from the US largest trading partners—including oil, electricity, natural gas, coal, uranium, and critical minerals.

The taxes levied stand to benefit MP Materials (NYSE:MP)—a Las Vegas-based rare earth materials producer—as this would push businesses to instead resort to American companies such as MP Materials for their rare earth mineral needs.

MP Materials (NYSE:MP) produces rare earth materials, a group of 17 metals used to make magnets that turn power into motion for electric vehicles, cell phones, and other electronics. The company is currently one of the largest non-Chinese rare earth miners and processors globally.

Overall, MP ranks 5th on our list of stocks that have surged on impressive earnings and bullish outlooks. While we acknowledge the potential of MP as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than MP but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap

Disclosure: None. This article is originally published at Insider Monkey.