MP Materials Stock Soars 24% On $500 Mln Apple Partnership For U.S.-Made Rare Earth Magnets

(RTTNews) - MP Materials Corp. (MP) surged 24.65 percent to $60.48 on Tuesday after Apple Inc. (AAPL) announced a $500 million deal with the company to secure American-made rare earth magnets and develop advanced recycling and processing technologies.

Shares of MP traded between $52.90 and $62.87 on massive volume of 54.97 million, far exceeding the average 11.5 million o the New York Stock Exchange. The stock now sits near its 52-week high of $62.87, well above the low of $10.02.

The agreement includes supplies from MP's Fort Worth facility and a new recycling line at its Mountain Pass site in California, strengthening Apple's domestic supply chain strategy.