Send me real-time posts from this site at my email

Randall Weisenburger Acquired Additional Shares When the Stock of Rare-earths Miner Mp Materials Dropped This Year.

Originally published on Best Stocks

Source: Getty Images


Shares of MP Materials (MP) have fallen 21% this year, which is somewhat higher than the 18% decrease in the S&P 500 index SPX –0.30%. General Motors GM –0.55 percent has contracted with the business “to build a fully integrated U.S. supply chain for rare-earth magnets” (GM).

The electric-vehicle supply chain first benefitted from a boost from the Biden administration earlier in the year. For investors who bought into MP Materials in the late 2020s, we discovered that the stock has returned a substantial amount of their money through May of this year despite the company’s decline in the second half of 2022.

On June 16, Weisenburger paid $1 million for 30,000 MP Materials shares at an average price of $33.25 apiece, according to an SEC filing. Now, he has 146,901 MP Materials shares in his account. In 2020, Weisenburger will join MP Materials’ board of directors as a former CFO of Omnicom Group (OMC).

The acquisition of shares by Weisenburger remained a mystery.

When he paid $3.5 million for 86,901 shares, an average price of $40.10 per share, in December, he made his most recent open market investment in MP Materials.

In May, Weisenburger purchased $1.2 million worth of Carnival (CCL) stock, which he serves on the board of.

Welcome! Is it your First time here?

What are you looking for? Select your points of interest to improve your first-time experience:

Apply & Continue