MP Materials shares fall 5.53% premarket after announcing a $500 million public offering of common stock.

Mp Materials Corp. declined 5.53% in premarket trading. The company announced a $500 million public offering of common stock, which may have caused investor concern about potential dilution of existing shares. Additionally, the news of a partnership with Apple to produce recycled rare earth magnets in the United States was overshadowed by the offering announcement, leading to a bearish sentiment among investors.