USAR Stock Skyrockets on White House Buzz and Rare Earth Boom – Will the Rally Last?
USA Rare Earth (NASDAQ: USAR) shares hit a record $28.25 intraday on Oct. 3, closing up 14.3% after confirming talks with the White House on a possible partnership. The stock surged 57% in a week on heavy volume, pushing its market cap to $2.6 billion. USAR remains pre-revenue, with no sales reported and ongoing quarterly losses. The company announced a $100 million acquisition of UK-based Less Common Metals on Sept. 29.