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., 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. 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.”
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This article is originally published at Insider Monkey.
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