10 Most Promising EV Stocks to Buy According to Analysts

7. MP Materials Corp. (NYSE:MP)

Analyst Upside: 44.32%

MP Materials Corp. (NYSE:MP) is among the Most Promising Stocks.

On June 28, The Wall Street Journal reported that MP Materials Corp. (NYSE:MP) sued USA Rare Earth, alleging the company misappropriated proprietary grain boundary diffusion technology through former engineer Kevin Elkins. However, Kevin denies the allegations. MP seeks at least $5 million in damages. The firm claims USA Rare Earth conducted a “raiding mission” by hiring at least eight key employees.

The WSJ said USA Rare Earth rejected the lawsuit, calling the claims “baseless” and arguing in a Texas court filing that the technology is “readily ascertainable via independent development, reverse engineering, and/or other proper means.”

An  MP Materials Corp. (NYSE:MP)  spokesperson said, “Competition is good, but blatant theft is unacceptable.” A USA Rare Earth spokesperson said the firm is “making significant strides in furthering America’s strategic interests.”

The Journal reported the legal battle shows intensifying competition as companies race to build a US rare-earth supply chain supported by billions in government and private investment.

MP Materials Corp. (NYSE:MP) produces and markets rare earth specialty materials. It works through the Materials and Magnetics segments.