Government-backed MP Materials surges as loss narrows on record rare earth oxide production
1. MP Materials narrowed losses in Q2, shares rose 9%. 2. Sales increased 84% to $57.4 million year-over-year. 3. Record production of NdPr oxide surged by 119%. 4. The Defense Department invested $400 million, becoming the largest shareholder. 5. Apple will invest $500 million and support a recycling facility.