Was Jim Cramer Right About MP Materials Corp. (MP)?

We recently published a list of Was Jim Cramer Right About These 12 Stocks? In this article, we are going to take a look at where MP Materials Corp. (NYSE:MP) stands against other stocks that Jim Cramer discusses.

Back in 2024, on May 16, a caller asked about MP Materials Corp. (NYSE:MP), a rare earth miner that had disappointed since being featured on the show back then. Cramer admitted he lost confidence at the time:

“It’s been disappointing. And I think it’s because they’re not making a lot of money. They have to — the CEO has to come on and say, ‘Listen, I’m done talking — I’m just going to make a lot of money.’ And then we have something. But otherwise what I feel like is — I’ve got behind a losing horse, and I don’t like to be betting behind losing horses. What can I say? That’s how I feel.”

MP Materials proved Cramer wrong, rebounding 17.87% after he lost confidence in its outlook.

Heavy machinery at work in a mining facility, excavating the earth for rare earth minerals.

MP Materials Corp. (NYSE:MP) is emerging as a critical rare earth supplier just as the U.S. reshuffles its strategic sourcing priorities. When asked about the stock again in April, Cramer admitted that the stock might prove to be a winner and that he’s giving it another chance:

“Okay… used to come on our program all the time, James Litinsky, and it’s had a good run. It’s moved up all the way from the bottom, but it used to be much, much higher. My take is this: I think that the rare earth specialty materials are going to do well under Trump and I like Litinsky. I think he’s the real deal, but boy, they keep losing money. This is the year that they either make money or I go against them. Period. End of story.”

Overall, MP ranks 8th on our list of stocks that Jim Cramer discusses. While we acknowledge the potential of MP as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than MP and that has 100x upside potential, check out our report about this cheapest AI stock.

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