USA Rare Earth (USAR) Soars to All-Time High as Firm Confirms Talks with Trump Admin

We recently published 10 Stocks With Double-Digit Upsides. USA Rare Earth, Inc. (NASDAQ:USAR) is one of the top performers on Thursday.

USA Rare Earth soared to a new all-time high on Thursday as investors repositioned portfolios after confirming talks with the US government for a potential partnership.

During the trading session, USA Rare Earth, Inc. (NASDAQ:USAR) soared to its highest 52-week price of $23.35 before paring gains to end the day just up by 23.36 percent at $22.71 apiece.

According to a report by CNBC quoting CEO Barbara Humpton, USA Rare Earth, Inc. (NASDAQ:USAR)  was “in close communication” with the White House, and keeping it informed of its own plans.

This followed the latter’s 5-percent investment in Lithium Americas earlier this week, and another 5 percent in its flagship Thacker Pass lithium project in Nevada. In July, the government also acquired a 15 percent investment in rare earth miner, MP Materials.

“This (rare earth supply chain) is a field where it will not be a zero-sum game,” Humpton said, adding that it’s going to take a lot of players to build out the marketplace.

USA Rare Earth, Inc. (NASDAQ:USAR) is currently developing a mine site in Sierra Blanca, Texas, and a magnet production facility in Stillwater, Oklahoma.

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Disclosure: None. This article is originally published at Insider Monkey.