USA Rare Earth (NASDAQ: USAR) went public through a merger with a special purpose acquisition company (SPAC) in March, and the stock has seen volatile trading since. As of close of trading Aug. 11, the company’s share price is down roughly 16% since it had its initial public offering (IPO). That means that a $1,000 investment in the stock would now be worth roughly $832.
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USA Rare Earth’s business is still in a pre-revenue state, and there’s still significant uncertainty when it comes to the outlook for launching and scaling its commercial operations. The company says its mission is to “establish a U.S. rare earth magnet supply chain supporting the future state of energy, mobility, and national security.”