USA Rare Earth Deal Gets U.K. Approval. The Stock Is Rising.
Market Intelligence Analysis
AI-PoweredUSA Rare Earth's stock is rising after receiving U.K. approval for its acquisition of Less Common Metals, a U.K.-based rare earth metals manufacturer, for $100 million and shares.
Market impact analysis based on bullish sentiment with 78% confidence.
Article Context
Shares of aspiring rare earth producer USA Rare Earth rose early Wednesday after the company announced U.K. approval for its purchase of Less Common Metals. USA Rare Earth stock was up 1.6% at $18.06 in premarket trading, while and futures were up 0.3% and 0.2%, respectively. The company, which is developing a rare earth mine in Texas, agreed to buy Less Common Metals, a U.K.-based manufacturer of specialized rare earth metals and alloys, for $100 million and 6.74 million shares in September.
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