MP - Why Shares of MP Materials Dropped 14% in March
After shooting 44% higher in February , shares of MP Materials (NYSE: MP) fell 14% in March, according to data provided by S&P Global Market Intelligence . Things had been looking good for investors through most of the month; the stock had risen almost 10% through the first three weeks of March, driven in part by a strong fourth-quarter 2020 earnings report that featured the company beating analysts' expectations on both the top and bottom lines.
But then things headed south quickly. Management's announcement addressing how the company would be raising capital abruptly eclipsed the memory of the company's Q4 earnings report.
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Why Shares of MP Materials Dropped 14% in March