We recently compiled a list of the Investor Optimism Boosts Jump of These 10 Stocks. In this article, we are going to take a look at where MP Materials Corp. (NYSE:MP) stands against the other stocks.

Wall Street’s main indices ended Monday’s trading session on a mixed note, with the Dow Jones Industrial Average the only decliner, dipping by 0.06 percent or 25.57 points to close at 42,706.56.

In contrast, the S&P 500 and Nasdaq Composite both registered gains, up 0.45 percent and 1.24 percent, respectively.

Monday's overall rally was largely driven by strong performances in the bitcoin mining and quantum computing sectors, with 10 companies seeing notable gains.

To come up with the day's top advancers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

Heavy machinery at work in a mining facility, excavating the earth for rare earth minerals.

MP Materials Corp. (NYSE:MP)

Metal miner MP Materials saw its stock price rise by 12.42 percent on Monday to finish at $20.46 apiece following reports that incoming president Donald Trump is set to levy taxes that would apply to all countries but be limited to specific critical imports, including critical minerals and energy production.

Assuming reports are true, MP Materials, a rare earth mining company, stands to benefit significantly from any potential plan.

Rare earths are a group of 17 metals used to make magnets that turn power into motion for electric vehicles, cell phones, and other electronics. MP Materials is one of the largest non-Chinese rare earth miners and processors.

Overall MP ranks 5th on our list of the stocks that soared today. While we acknowledge the potential of MP as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than MP but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

 

READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock

 

Disclosure: None. This article is originally published at Insider Monkey.