"Buy the dip" one of the largest rare earth producers - MP
Updated
Several indicators suggest MP has finished its 3 year downward sprial and the stock is ready to reverse. The stock price has bounced off a multiple bottom, and crossed above 2020 high. While the stock is in the downward trend, it's trading closer to the lower end of the channel, providing further upside. Fundametally, need for rare earths is imminent. The company has $1.08 billion cash, almost twice its debt, securing its leverage position. Certainly heading upwards
Trade closed: stop reached
MP reported generally adverse financial results, reporting net losses, and over 30% slump in production. The merger talks cited on the conference call didn't end up well.
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