The Department of Justice announced a $400 billion investment in MP to fund a huge rare earths processing plant expansion. In conjunction, the DoD agreed to a long-term purchase agreement with a minimum price and volume commitments.

MP Materials soared 50.62 percent on Thursday to hit a new high after sealing a multi-billion-dollar deal with the Department of Defense (DOD) to ramp up the production of rare earth minerals in the

MP Materials (MP) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term.

MP Materials' stock surged 50% after a transformative Department of Defense deal. Click here to find out why I rate MP stock as a hold at current prices.

As of 10:17 a.m. ET on Friday, shares of MP Materials stock had climbed 6.5%.

The Pentagon is buying a huge stake in America’s only rare earth mine to secure weapons supplies. On Thursday, the United States Department of Defense (DOD) entered a major deal with MP Materials. The DOD agreed to buy $400 million of MP Materials newly created preferred shares stock.