Overview
- Shares fell about 8.7% late Thursday morning after dropping 13.7% on Wednesday to $32.45, down from Monday’s 52-week high of $43.98.
- The stock had climbed more than 140% over the past month as rare-earth names rallied on U.S.–China trade tensions and a reported JPMorgan critical-minerals initiative.
- Wednesday’s decline was widely described as investors locking in gains rather than a response to fresh, company-specific developments.
- USA Rare Earth remains pre-revenue, contrasting with peer MP Materials, which reports revenue and operating cash flow from production.
- The company is building a rare-earth magnet facility that it expects to begin operating in early 2026.