MP Materials announced a $500 million stock sale following a supply deal with Apple, causing shares to drop 5.8%. The company’s value stands at $9.57 billion after a 275% increase this year. Additionally, a recent multibillion-dollar agreement with the U.S. Department of Defense aims to reduce reliance on Chinese rare earth exports. J.P. Morgan and Goldman Sachs are leading the stock sale.

Read more at Yahoo Finance: MP Materials commences $500 million public offering of common stock