China, USA Rare Earth
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Wall Street investors were rattled Friday after Donald Trump threatened a "massive increase" in tariffs on Chinese imports amid rare earths dispute.
USA Rare Earth stock surges 17% on Monday amid geopolitical optimism, but easing US-China tensions may curb gains.
China’s Commerce Ministry said Tuesday it was banning dealings by Chinese companies with five subsidiaries of South Korean shipbuilder Hanwha Ocean in the latest swipe by Beijing at U.S. President Donald Trump's effort to rebuild the industry in America.
As for the acquisition, the company bought Less Common Metals ("LCM"), a British firm focused on the rare metals space. USA Rare Earth paid $100 million in cash plus 6.74 million shares of its common stock for the acquisition. Based on the then-prevailing price of USAR stock, this amounted to total consideration of $217 million for LCM.
USA Rare Earth shares closed near $31 last night, but are up 5.3% through 10:45 a.m. ET today. Yesterday, Roth analyst Suji Desilva thought USA Rare Earth stock was worth only $20; today, $40.
This week, the Chinese National Space Agency (CNSA) and NASA coordinated for the first time to avoid a collision in what could be the first steps toward building a space-based flight control system. As satellite megaconstellations crowd low Earth Orbit, this kind of collaboration will likely become increasingly necessary in the coming years.
Brazilian farmers are lobbying to roll back deforestation restrictions in order to sell more soybeans to the huge Chinese market.
12hon MSN
China defends trade negotiator
CNBC's Eamon Javers joins 'Money Movers' with the latest news on trade negotiations between China and the U.S.