MP Materials Corp (NYSE:MP) and USA Rare Earth Inc (NASDAQ:USAR) shares are on the rise today, as investors monitor the rare earths sector while the U.S. and Europe clash over the sale of Greenland. President Donald Trump threatened to impose tariffs on countries that oppose the move, including duties of 10% starting on Feb. 1 that may rise to 25% on June 25.
MP was last seen up 1.4% to trade at $69.93, while boasting a 233.5% year-over-year lead. The security has rallied since the start of the month, earlier hitting its highest level since October. Longer term, the $50 level has kept losses in check since for the past few months, following the stock's pullback from its Oct. 15 record high of $96.97.
USAR is even hotter, up 11.2% to trade at $19.67 at last glance, after the company announced plans to develop rare earth metal plant in Lacq, France. Shares are testing overhead pressure at $20 today, after breaking above this level for the first time since October earlier in the session. In the last 12 moths, the equity has added over 50%.
Options bulls are blasting both equities today, with MP seeing double the amount of traded at this point, and USAR seeing triple. The most popular contract for the former is the weekly 2/27 70-strike call -- where new positions are being opened -- while for the latter it's the March 20 call.
