MP Materials stock soars
Digest more
The $400 million investment will create a domestic supply chain for materials used in fighter jets and missiles.
MP Materials' stock surged 50% after a transformative Department of Defense deal. Click here to find out why I rate MP stock as a hold at current prices.
James Litinsky, MP Materials chairman and CEO, joins CNBC's 'Squawk on the Street' to discuss the company's deal with the Defense Department, in which the Pentagon will become the largest shareholder in the rare earth miner.
MP Materials, operating the only U.S. rare earths mine, has secured a $500 million deal with Apple to produce magnets for iPhones and other tech products. This follows the U.S. Defense Department's $400 million investment in MP,