Why USA Rare Earth Stock Surged 19.2% Last Month
USA Rare Earth has been making some big moves recently.
Overview
USA Rare Earth (NASDAQ: USAR) stock recorded strong double-digit gains in August. The company's share price climbed 19.2%, according to data from S&P Global Market Intelligence, in a month that played host to a 2.6% increase for the S&P 500's level and a 3.9% gain for the Nasdaq Composite.
Along with the bullish backdrop for the broader market, the company also published its second-quarter results and announced the completion of an upsized $1.55 billion capitalization of the special purpose vehicle (SPV) backed by the U.S. government to support its acquisition of Brazilian rare-earth mining specialist Serra Verde. While the company's Q2 report didn't do anything to push the stock higher, the SPV announcement did boost the stock -- and investors have gotten more good news in September.
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Originally published at www.fool.com.