Rising humanoid robot demand and MP Materials' supply chain response
MP MP Materials Corp
$37.75 +6.61%
View chart & analysis → - 1China accounts for approximately 60% of global rare earth mining and 90% of global processing.
- 2MP Materials CEO James Litinsky said each humanoid robot requires 8-10 pounds of rare earth magnets.
- 3MP Materials shares have fallen approximately 62% from their peak.
So what's the key point?
Demand for rare earth magnets needed to make robots is increasing. MP Materials shares are down about 62% from their high point.
Source The Motley Fool · View original ↗
Today's 5 AI picks, all freeNothing hidden: past picks and how they did against the S&P 500.