These 10 Stocks Are On Fire Right Now

5. MP Materials Corp. (NYSE:MP)

MP Materials rallied for a second straight day on Wednesday, jumping 11.73 percent as investors gobbled up shares in the company on optimism that it would benefit from China’s rare earth export restrictions.

It can be learned that Beijing suspended exports across a wide range of critical minerals last month, disrupting production of industries such as automakers, semiconductors, and aerospace manufacturers around the world that are heavily reliant on such materials.

However, MP Materials Corp. (NYSE:MP)—the only rare earth minerals producer based in the US—stands to benefit from China’s restrictions on expectations that companies would set their sights on non-Chinese producers to supply needed elements.

MP Materials Corp. (NYSE:MP) used to heavily rely on its partners in China for refining rare earth elements, until withdrawing shipments following 125-percent retaliatory tariffs slapped on US goods.

Additionally, MP Materials Corp. (NYSE:MP) said that its withdrawal was also aligned with the Trump administration’s goal to bring back and boost manufacturing in the US.