10 Stocks Got Wiped Out. Are You Holding Any?

6. MP Materials Corp. (NYSE:MP)

MP Materials dropped its share prices by 4.67 percent to finish at $18.77 as investors disposed of positions to flock to higher-yielding stocks such as nuclear and AI amid promising growth prospects for the said industries.

In the first three months of the year, MP Materials Corp. (NYSE:MP) swung to a net loss of $22.6 million from a net income of $16.5 million in the same period last year, primarily due to a $46.3 million non-cash gain in the first quarter of 2024 associated with the early extinguishment of a portion of convertible notes due in 2026.

Revenues, however, were higher by 25 percent to $60.8 million from $48.68 million year-on-year, primarily driven by higher production of separated products, resulting in a greater mix of NdPr oxide and metal revenue in the current period.

MP Materials Corp. (NYSE:MP) is the only fully integrated rare earth producer in the United States, with capabilities spanning the entire supply chain—from mining and processing to advanced metallization and magnet manufacturing.