Lithium Americas Corp.

Key Points
Quantum computing stocks are on fire over the trailing-12-months, with IonQ, Rigetti Computing, D-Wave Quantum, and Quantum Computing Inc. soaring by up to 3,140%!
The Trump administration is rumored to want equity stakes in Wall Street's high-flying quantum computing pure-play stocks, which would open up a can of worms.
History tells us quantum computing stocks are bound to face growing pains.
Though artificial intelligence (AI) has been the hottest game-changing innovation on Wall Street since the advent and proliferation of the internet in the mid-1990s, it's not the only next-big-thing trend fueling investor excitement at the moment. The evolution of quantum computing is playing a close second fiddle to AI.
Investors need only look at the trailing-12-month returns of quantum computing pure-play stocks to gauge the level of excitement for this innovation. Shares of IonQ (NYSE: IONQ), Rigetti Computing (NASDAQ: RGTI), D-Wave Quantum (NYSE: QBTS), and Quantum Computing Inc. (NASDAQ: QUBT) have respectively soared by 284%, 3,140%, 2,760%, and 1,310%.
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Quantum computers have the potential to tackle complex problems that today's classical computers wouldn't be able to solve in our lifetime, or flat-out can't do. This includes running molecular simulations to help drug developers target treatments, assisting cybersecurity companies to make their platforms more secure, and speeding up the learning process of AI algorithms. It's a technology with high-ceiling potential.
It's also an innovation that may be piquing the interest of President Donald Trump's administration. Based on a report from The Wall Street Journal last week, the Trump administration is tinkering with idea of taking equity stakes in IonQ, Rigetti Computing, and D-Wave Quantum. While this might sound great on paper, it would very likely be terrible news for investors.
Government stakes in quantum computing stocks would be troublesome
Let me preface the following discussion by making clear that the WSJ report is a rumor, with a U.S. Commerce Department official telling CNBC last week that it's not in discussion with quantum computing pure-play stocks to take equity stakes. Nevertheless, IonQ, Rigetti, D-Wave, and Quantum Computing Inc. all rallied significantly following the report.
With all four of these companies actively looking to expand the reach of their quantum computing infrastructure and maintain a healthy level of research and development spending to improve the efficacy and speed of their computing solutions, investments from the federal government would certainly help. These are businesses that, by Wall Street's consensus expectations, will lose money and burn cash through 2028, if not considerably longer.
We've also witnessed the willingness of the Trump administration to take equity stakes in public businesses to ensure everything from domestic chip fabrication to access to rare-earth metals. Thus far, federal government equity stakes have been taken in chipmaker Intel, along with MP Materials, Lithium Americas, and Trilogy Metals.
But even if the Trump administration did take equity stakes in one or more of Wall Street's quantum computing darlings, it would come at a price.
Firstly, there would be an expected issuance of shares to the federal government. Common stock offerings are dilutive to existing shareholders, which would possibly put near-term pressure on the share price of IonQ, Rigetti Computing, and/or D-Wave Quantum.
Perhaps the bigger issue is that government equity stakes in public companies may put the interests of the government ahead of what's best for these companies over the long run. Although the Trump administration's stakes are designed to be passive, elected officials in Washington, D.C., ultimately establish the laws that impact these businesses.
We've witnessed instances during President Trump's second term where he's used American businesses as bargaining chips when negotiating tariff and trade deals. Government stakes wouldn't be ideal for IonQ, Rigetti Computing, D-Wave Quantum, or their investors.
But wait -- there's more
Unfortunately, rumors of the Trump administration wanting stakes in quantum computing pure-plays is just the tip of the iceberg of potential red flags and headwinds with these stocks.
Arguably the top headwind for companies like IonQ, Rigetti, D-Wave, and Quantum Computing Inc. is history. While history has paved the way for numerous next-big-thing technologies to positively alter the growth arc for corporate America, there's no mistaking that early stage bubbles have been a given for every game-changing technology since the mid-1990s.
Including the internet, we've watched numerous hyped innovations fail to live up to expectations in the early going, including nanotechnology, 3D printing, blockchain technology, and the metaverse, to name a few. Investors have a habit of overestimating how quickly a hyped technology will be used on a mainstream basis, which eventually results in lofty growth projections not being met.
Quantum computing remains a nascent technology that has plenty of potential on paper, but isn't being commercialized on a broad scale, as of yet. It's probably going to need multiple years to evolve and mature.
The other headwind that investors simply won't be able to sweep under the rug has to do with the valuation of quantum computing pure-play stocks.
The dot-com era led to the most expensive stock market in history, spanning more than 150 years, according to the Shiller price-to-earnings ratio. In the months leading up to the internet bubble bursting, market-leading stocks like Cisco Systems and Microsoft were consistently peaking at trailing-12-month (TTM) price-to-sales (P/S) ratios of 30 to 40.
As of the closing bell on Oct. 24, the respective TTM P/S ratios for Wall Street's four hottest quantum computing stocks are:
IonQ: 263
Rigetti Computing: 1,243
D-Wave Quantum: 375
Quantum Computing Inc.: 7,322
Not even a high-double-digit or triple-digit annual sales growth rate can sustain or justify P/S ratios tipping the scales between 263 and 7,322!
Though it's possible these quantum computing stocks will be long-term success stories, historical precedent points to eventual significant drawdowns for all four companies in the quarters and years to come.
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Sean Williams has positions in Intel. The Motley Fool has positions in and recommends Cisco Systems, Intel, and Microsoft. The Motley Fool recommends MP Materials and recommends the following options: long January 2026 $395 calls on Microsoft, short January 2026 $405 calls on Microsoft, and short November 2025 $21 puts on Intel. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The Donald Trump Administration May Want Stakes in Quantum Computing Stocks IonQ, Rigetti Computing, and D-Wave Quantum -- and That May Be Terrible News

Key Points
The long-term supply-demand picture should be favorable for critical minerals and rare-earth elements, which should help boost stock prices of select companies.
Mining stocks are particularly risky due to the very high cost and long process of developing and expanding mines.
Buying an exchange-traded fund (ETF) can be a less risky way to gain exposure to critical minerals and rare-earth elements relative to buying individual stocks.
There are good reasons to want to invest in critical minerals and rare-earth elements, which are a subset of critical minerals. Demand for these substances -- which are considered vital to the United States' economic and national security interests -- should continue to increase. (There are 50 minerals on the U.S. critical minerals list, and 54 on a draft for an updated list, and there are 17 rare-earth elements.)
These substances are needed in the manufacturing of many high-growth, advanced technologies, including semiconductors, electric vehicles (EVs), and renewable energy, and by the defense industry.
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The U.S. does not have a dependable supply chain for these minerals, which are largely mined and processed in China. And China has banned or restricted the export of some of these minerals to the U.S. So, the U.S. government is spending some big bucks to develop a more dependable critical minerals supply chain.
The Trump administration has even bought a stake in several publicly traded U.S. companies it considers essential to the nation's national security. This includes three critical minerals companies -- Lithium Americas, Trilogy Metals, and rare-earth elements company MP Materials (NYSE: MP) -- along with semiconductor maker Intel.
Why buy a critical minerals and rare earths ETF over individual stocks?
Mining stocks are particularly risky due to the very high cost and long process of developing and expanding mines. Buying an exchange-traded fund (ETF) can be a less risky way to gain exposure to critical minerals and rare-earth elements relative to buying individual stocks.
That said, another way to use ETFs is to review their holdings to help scout for potentially attractive individual stocks in select industries.
VanEck Rare Earth and Strategic Metals ETF: Overview
VanEck Rare Earth and Strategic Metals ETF (NYSEMKT: REMX), which began trading in 2010, is an index fund designed to track the performance of the MVIS Global Rare Earth/Strategic Metals Index, "which is intended to track the overall performance of companies involved in producing, refining, and recycling of rare earth and strategic metals and minerals."
Companies must derive at least 50% of total revenue from the rare-earth element/strategic metals industry to be added to the Index. The ETF has 29 stock holdings and a net expense ratio of 0.58%, which is reasonable, as of Oct. 23.
VanEck Rare Earth and Strategic Metals ETF: Top 10 stock holdings
Holding No.
Company and Headquarters
Market Cap
Profitable on a TTM Basis?
Weight (% of Portfolio)
YTD 2025 Stock Return
5-Year Stock Return
1
Lynas Rare Earths (OTC: LYSDY), Australia
$12.7 billion
Yes
7.52%
220%
524%
2
Pilbara Minerals (OTC: PILBF),
Australia
$6.8 billion
No
7.18%
58.7%
631%
3
MP Materials, U.S.
$12.5 billion
No. Wall Street expects it to be profitable next year.
7.14%
354%
430%
4
Albemarle (NYSE: ALB), U.S.
$12.4 billion
No. Wall Street expects it to be profitable next year.
7.01%
24.9%
16.1%
5
Lithium Americas (NYSE: LAC), U.S.
$1.7 billion
No. Not yet in the commercialization stage.
6.89%
126%
N/A
6
China Northern Rare Earth Group, China
185 billion yuan = approx. $26 billion
Yes
6.49%
141%*
388%*
7
Liontown Resources, Australia
$2.4 billion
No
5.14%
133%
325%
8
Iluka Resources, Australia
$2.2 billion
Yes
5.07%
60.3%
156%
9
Ganfeng Lithium, China
$17.2 billion
No
5.00%
128%
10
Sociedad Quimica y Minera (SQM), Chile
$12.9 billion
Yes
4.76%
25.3%
49.3%
Total top 10
N/A
N/A
N/A
62.20%
N/A
N/A
Overall ETF
N/A
Total net assets of $1.38 billion
N/A
100%
88.4%
97.3%
N/A
S&P 500 Index
N/A
N/A
N/A
16.7%
111%
Data sources: VanEck Rare Earth and Strategic Metals ETF, Yahoo! Finance, and YCharts. *Gain in Chinese yuan (CNY); stock is neither listed in nor traded over the counter (OTC) in the U.S. TTM = trailing 12 months. YTD = year to date. Data as of Oct. 24, 2025, except for weightings data, which is as of Oct. 23, 2025.
Brief descriptions for the top five holdings:
Lynas Rare Earths (No. 1) mines for rare-earth minerals at its Mt. Weld mine in Australia and produces rare-earth materials at its processing plants in Australia and Malaysia.
Pilbara Minerals (No 2) operates lithium mining operations in Australia and Brazil. It also produces tantalite as a byproduct.
MP Materials (No. 3) operates Mountain Pass in California, the only rare-earth elements mining operation in the U.S. The company produces rare-earth magnets and materials in Texas.
Albemarle (No. 4) is a lithium miner with its primary mining operations in Chile and -- via a joint venture -- Australia. It also operates the only lithium mining operation in the U.S., Silver Peak in Nevada.
Lithium Americas (No. 5) is a pre-commercialization stage company that's developing the Thacker Pass lithium mining operation in Nevada.
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Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $590,357!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,141,748!*
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Beth McKenna has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Intel. The Motley Fool recommends Lynas Rare Earths Ltd and MP Materials and recommends the following options: short November 2025 $21 puts on Intel. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Interested in Rare Earth and Critical Minerals Stocks? You Might Consider Buying This ETF

The hottest trade of late hasn’t been in AI, instead, stocks of companies that are engaged in the production or servicing of rare earth minerals and elements have taken the spotlight.
While the market had been on edge amid reemerging trade war fears, “rare earth” stocks have gained more momentum from the increased tensions between the U.S and China.
To that point, the U.S.-China friction has intensified around rare earth minerals, which are critical for defense and tech industries, including for the production of electric vehicles and semiconductors.
Dominating the rare earth supply chain for quite some time, China’s tariff retaliation has also centered on tighter export restrictions for these essential commodities. In response, the U.S. has planned to ramp up domestic production and has even made direct investments in publicly traded mining and critical element producing companies.
These strategic investments led the initial surge in rare earth stocks with JPMorgan JPM recently adding to the optimism by announcing a $1.5 trillion “Security and Resilience Initiative” to help as well.
Keeping this scenario in mind, investors are certainly wondering if they should ride the rare earth stock’s trade wave.
The U.S. Government’s Direct Investments
Focusing on critical minerals and national security, the U.S. government has taken direct equity stakes in several mining companies, which have all seen their stocks soar well over +100% in 2025.
Lithium Americas - LAC
Stock Price & YTD Gains: $6, +135%
Although Lithium Americas LAC is a Canadian-based company, it has critical mineral projects in the U.S. that are essential to the nation’s ability to produce such rare resources. With the U.S. taking a 5% stake in Lithium Americas, the mining company’s Thacker Project in Nevada is on track to be one of the largest sources of lithium in North America. Notably, lithium is crucial for EV production and the excitement for Lithium America’s stock has taken off despite expectations of an adjusted loss of around $0.20 per share or more for the foreseeable future. Still, fiscal 2026 EPS estimates have remained slightly higher in the last 60 days landing LAC shares a Zacks Rank #3 (Hold) as the possibility of Lithium Americas being lifted above the probability line has become more likely.
Trilogy Metals - TMQ
Stock Price & YTD Gains: $6, +434%
Yes your seeing that right, this was a penny stock that has skyrocketed over +400% after trading under $1 earlier in the year. Also based in Canada, the U.S. has a 10% stake in Trilogy Metals TMQ to support the development of its Ambler mining district project in Alaska, which is rich in copper, cobalt, and geranium.
TMQ shares also land a Zacks Rank #3 (Hold) as earnings estimate revisions have remained unchanged over the last quarter but the metal exploration company is actually closer to posting positive EPS sooner than Lithium Americas.
MP Materials - MP
Stock Price & YTD Gains: $82, +427%
Headquartered in Nevada, MP Materials MP has long been on the radar as one of the more popular mining stocks. Producing rare earth materials in the Western Hemisphere, the U.S. has taken a 15% equity stake in MP Materials. That said, the rally in MP Materials stock appears to be overdone with MP shares trading over $80 after soaring more than +400% YTD. It might be a good time to take profits in MP as FY25 and FY26 EPS estimates are both lower in the last 60 days. Correlating with such, MP lands a Zacks Rank #4 (Sell).
MP Materials is projected to swing into the black next year and post positive EPS of $0.92 but estimates are down from $0.96 two months ago. Plus, this would still leave MP Materials at a very high forward P/E valuation despite moving further away from the speculative growth phase since going public in 2020.
USA Rare Earth Stock Soars on China’s Export Controls
Launching its IPO in March, USA Rare Earth’s USAR stock has attracted investors interest as one of the few companies aiming to produce rare earth magnets solely in the U.S., a key component in electric motors and military systems.
Furthermore, USA Rare Earth’s new CEO Babara Humpton has sparked investor sentiment after hinting that management is in close communication with the White House amid the Trump administration’s goal to cut China’s dominance over rare earth minerals. Fueling speculation about a potential government partnership, USAR shares have rallied more than +100% in the last month to over $30 and are now sitting on pleasant IPO gains of +70%.
Image Source: Zacks Investment Research
USA Rare Earth is not yet profitable, but is projected to post a smaller adjusted EPS loss of -$0.32 in FY26 with FY25 estimates currently at -$0.82 per share. USAR has a Zacks Rank #3 (Hold) as FY26 EPS revisions are sharply up from projections of -$0.54 earlier in the quarter although FY25 EPS estimates are down from -$0.60.
Image Source: Zacks Investment Research
Cleaveland-Cliff’s Q3 Report
It’s noteworthy that Cleveland-Cliffs CLF has entered the rare earth stock trade after announcing a bold pivot into the space during its Q3 report on Monday morning. CLF surged more than +20% in today’s trading session to $16 a share as Cleaveland-Cliffs stated it would explore rare earth mineral production at its mining sites in Michigan and Minnesota.
Able to exceed earnings expectations, Cleveland-Cliffs posted an adjusted loss of -$0.50 a share compared to Q3 EPS estimates of -$0.68. The EPS surprise was attributed to robust demand for its U.S.-produced steel thanks to President Trump’s 50% tariff on imported steel. However, Cleveland-Cliffs came short of Q3 sales estimates of $4.88 billion by 3% with CLF currently landing a Zacks Rank #4 (Sell). Hopefully a trend of declining EPS revisions for FY25 and FY26 will begin to turnaround, especially as Cleaveland-Cliffs is expected to be unprofitable for the time being.
Image Source: Zacks Investment Research
Conclusion & Final Thoughts
Not to doubt the emerging importance and relevance of these rare earth stocks, but there could certainly be better buying opportunities ahead as most of them are in the speculatory growth phase. Obviously, a higher risk tolerance will be needed for those who choose to invest in these rare earth companies but they make for a great watchlist of buy the dip targets.
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This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Ride the Rare Earth Stock's Trade Wave?

Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the VanEck Rare Earth/Strategic Metals ETF (Symbol: REMX) where we have detected an approximate $202.8 million dollar inflow -- that's a 17.8% increase week over week in outstanding units (from 16,024,987 to 18,874,987). Among the largest underlying components of REMX, in trading today Lithium Amers Corp Cda (Symbol: LAC) is up about 1.8%, Albemarle Corp. (Symbol: ALB) is up about 3.2%, and Iperionx Ltd (Symbol: IPX) is lower by about 0.3%. For a complete list of holdings, visit the REMX Holdings page » The chart below shows the one year price performance of REMX, versus its 200 day moving average:
Looking at the chart above, REMX's low point in its 52 week range is $32.36 per share, with $81.705 as the 52 week high point — that compares with a last trade of $71.48. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Also see:
Institutional Holders of DPO
BSET Split History
GLCH Videos
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Notable ETF Inflow Detected - REMX, LAC, ALB, IPX

The NASDAQ 100 Pre-Market Indicator is up 125.6 to 24,943.55. The total Pre-Market volume is currently 372,164,591 shares traded.
The following are the most active stocks for the pre-market session:
Replimune Group, Inc. (REPL) is +4.09 at $8.59, with 42,253,588 shares traded. REPL's current last sale is 245.43% of the target price of $3.5.
Rani Therapeutics Holdings, Inc. (RANI) is +0.39 at $2.03, with 33,558,212 shares traded. As reported by Zacks, the current mean recommendation for RANI is in the "strong buy range".
Direxion Daily TSLA Bull 2X Shares (TSLL) is +0.4 at $20.57, with 10,066,687 shares traded. This represents a 227.03% increase from its 52 Week Low.
ProShares UltraPro Short QQQ (SQQQ) is -0.17 at $14.72, with 5,854,775 shares traded., following a 52-week high recorded in prior regular session.
Bitfarms Ltd. (BITF) is +0.36 at $5.37, with 5,423,459 shares traded. As reported by Zacks, the current mean recommendation for BITF is in the "buy range".
New Era Energy & Digital, Inc. (NUAI) is +0.65 at $5.20, with 5,058,145 shares traded.
Archer Aviation Inc. (ACHR) is +0.4 at $11.64, with 2,141,867 shares traded. As reported by Zacks, the current mean recommendation for ACHR is in the "buy range".
NIO Inc. (NIO) is +0.02 at $6.77, with 1,605,273 shares traded. NIO's current last sale is 98.83% of the target price of $6.85.
BigBear.ai, Inc. (BBAI) is +0.21 at $7.63, with 1,314,189 shares traded. BBAI's current last sale is 127.17% of the target price of $6.
IonQ, Inc. (IONQ) is +2.54 at $65.48, with 1,311,808 shares traded., following a 52-week high recorded in prior regular session.
Lithium Americas Corp. (LAC) is +0.34 at $7.13, with 1,281,277 shares traded. LAC's current last sale is 126.19% of the target price of $5.65.
Cleveland-Cliffs Inc. (CLF) is +1.3188 at $14.64, with 1,130,559 shares traded. Smarter Analyst Reports: Cleveland-Cliffs Posts Strong Q3 Results; Shares Pop 4%
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Pre-Market Most Active for Oct 20, 2025 : REPL, RANI, TSLL, SQQQ, BITF, NUAI, ACHR, NIO, BBAI, IONQ, LAC, CLF

Key Points
The S&P 500, Nasdaq Composite, and Dow Jones Industrial Average have all hit new highs in 2025 -- and even the federal government is benefiting from it.
President Trump's administration has taken complex equity stakes in four public companies since July in the semiconductor and rare-earth metals arenas.
Government stakes in public companies can lead to conflicts of interest that may not favor investors.
Though 2025 got off to a rocky start on Wall Street, it's shaping up to be another banner year for the stock market. Recently, the widely followed S&P 500 (SNPINDEX: ^GSPC), growth-fueled Nasdaq Composite (NASDAQINDEX: ^IXIC), and iconic Dow Jones Industrial Average (DJINDICES: ^DJI) all hit fresh record highs.
Investors who've stayed the course and remained optimistic have demonstrably benefited -- and this now includes the federal government.
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While the U.S. government has, on rare occasions in the past, dipped its toes into the pond as an investor, President Donald Trump's administration is breaking the mold, and not necessarily in a good way.
During the financial crisis, the Troubled Asset Relief Program, better known as TARP, allowed the Treasury Department to establish equity stakes in troubled financial institutions. Meanwhile, during the COVID-19 pandemic, the U.S. Treasury received stock warrants from some major airlines as partial compensation for the financial assistance they were provided.
The Trump administration has taken equity stakes in four public companies without there being a financial emergency, which is both unique and a potentially dangerous precedent.
President Trump's administration has invested in four skyrocketing stocks
The highlight of the Trump administration's investing foray is undoubtedly its $8.9 billion stake taken in semiconductor behemoth Intel (NASDAQ: INTC). Though Intel had already been granted funds from the U.S. CHIPS and Sciences Act (it had received $2.2 billion, as of Aug. 22), the remaining $5.7 billion in grants, coupled with $3.2 billion awarded to the company via the Secure Enclave program, were converted to an investment in Intel's common stock. This works out to a 9.9% stake in the company.
Additionally, the Trump administration received a five-year warrant that allows for the purchase of an additional 5% of Intel's outstanding shares at $20/share if Intel's ownership in its foundry business falls below 51%.
The purpose of this investment is simple: The president and his administration want chip production to occur in the U.S. and not overseas. This capital should help fuel Intel's foundry ambitions, where it aims to become the world's No. 2 chip fabricator.
But Intel is just the tip of the iceberg, with the Trump administration investing in three other publicly traded companies.
On July 10, rare-earth metals producer and processor MP Materials (NYSE: MP) announced a complex, multibillion-dollar deal with the U.S. Department of Defense (DOD) that saw it become the company's largest shareholder. The investments made by the DOD will seed the construction of a second magnet manufacturing facility in the U.S., which is expected to open in 2028.
Furthermore, the DOD established a 10-year offtake agreement to purchase all magnets from this new facility, once complete, as well as set a price floor commitment of $110 per kilogram for MP Materials' neodymium-praseodymium oxide production. This investment is a direct attempt to keep China from accessing even more rare-earth metals.
In early October, the U.S. Department of Energy (DOE) announced it would take a 5% stake in Lithium Americas (NYSE: LAC), which operates one of the world's largest lithium mines in Nevada. The DOE is also taking a 5% stake in a joint venture between Lithium Americas and General Motors for the Thacker Pass lithium mine, also located in the Silver State.
Lithium is a necessary metal used in next-generation batteries found in smartphones and electric vehicles.
Lastly, on Oct. 6, metals and minerals miner Trilogy Metals (NYSEMKT: TMQ) announced a $35.6 million investment from the Department of Defense, which Trump in early September rebranded the Department of War. Trilogy, a Canadian-based mining company, holds a 50% interest in Ambler Metals, which has total control of the Upper Kobuk Mineral Projects in Alaska.
The government will purchase more than 8.2 million shares of Trilogy at $2.17/share for a cost of approximately $17.8 million, as well as receive 10-year warrants that can further increase its stake.
Federal government ownership of stocks can be a slippery slope for Wall Street and investors
On the surface, the federal government taking equity stakes in publicly traded companies would appear to be fantastic news. From afar, it exudes confidence in the domestic semiconductor industry and looks to be a viable attempt to ensure that America can secure rare-earth metals at attractive prices in the future.
But all is not what it appears if investors dig beneath the surface.
In 2012, Congress passed, and then-President Barack Obama signed, the Stop Trading on Congressional Knowledge (STOCK) Act into law. The STOCK Act was designed to stop members of Congress and leading government officials from placing stock trades with inside information. Under this act, members of Congress and leading government officials are required to publicly report their trades in excess of $1,000 no later than 45 calendar days following a transaction.
Despite the STOCK Act becoming law, eyebrow-raising trades continue to be made by members of Congress who help establish the laws that directly impact the companies they're investing in.
Take this potential conflict of interest and magnify it 100-fold, and you have the dangerous precedent being set by the Trump administration's investments in Intel, MP Materials, Lithium Americas, and Trilogy Metals.
Even though U.S. Commerce Secretary Howard Lutnick assured investors in an interview with CNBC (prior to his administration taking a stake in Intel) that any stakes taken would be nonvoting for the U.S. government, this doesn't mean the Trump administration doesn't exert sway over the boards and executive teams at these four companies.
In addition to Congress crafting the fiscal policy and laws that can directly impact these businesses, President Trump has demonstrated a willingness to use U.S. businesses and/or products as bargaining chips for his tariff and trade policy demands.
To add fuel to the fire, it's a stretch to say that all four of these public companies needed capital from the Trump administration.
For example, Intel had already been granted $7.86 billion from the CHIPS Act, and has generated over $10 billion in cash flow from its operations over the trailing-12-month period. It wasn't hurting for capital, but had its hands tied by the federal government altering the nature of its remaining CHIPS Act grants.
While the investments we've witnessed in Intel, MP Materials, Lithium Americas, and Trilogy Metals have sent these respective stocks soaring in recent months, they aren't cause for cheer from Wall Street or investors.
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Sean Williams has positions in Intel. The Motley Fool has positions in and recommends Intel. The Motley Fool recommends General Motors and MP Materials and recommends the following options: short November 2025 $21 puts on Intel. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The Donald Trump Administration Purchased Stakes in Intel, MP Materials, Lithium Americas, and Trilogy Metals -- and It Sets a Dangerous Precedent

The NASDAQ 100 Pre-Market Indicator is up 159.33 to 24,904.69. The total Pre-Market volume is currently 153,377,168 shares traded.
The following are the most active stocks for the pre-market session:
NIO Inc. (NIO) is -0.52 at $6.30, with 15,536,451 shares traded. NIO's current last sale is 91.97% of the target price of $6.85.
Direxion Daily TSLA Bull 2X Shares (TSLL) is +0.07 at $19.91, with 6,533,059 shares traded. This represents a 216.53% increase from its 52 Week Low.
Bitfarms Ltd. (BITF) is -0.27 at $6.20, with 5,393,069 shares traded. As reported by Zacks, the current mean recommendation for BITF is in the "buy range".
ProShares UltraPro Short QQQ (SQQQ) is -0.2197 at $14.79, with 4,534,385 shares traded., following a 52-week high recorded in prior regular session.
Critical Metals Corp. (CRML) is +3.66 at $26.38, with 4,080,079 shares traded., following a 52-week high recorded in prior regular session.
Defiance Daily Target 2x Short IONQ ETF (IONZ) is -0.089 at $2.79, with 4,046,001 shares traded., following a 52-week high recorded in prior regular session.
NVIDIA Corporation (NVDA) is +2.29 at $182.12, with 3,885,136 shares traded. As reported by Zacks, the current mean recommendation for NVDA is in the "buy range".
Lithium Americas Corp. (LAC) is -0.36 at $9.08, with 3,516,800 shares traded. LAC's current last sale is 144.13% of the target price of $6.3.
Taiwan Semiconductor Manufacturing Company Ltd. (TSM) is +6.72 at $311.43, with 1,931,621 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Dec 2025. The consensus EPS forecast is $2.57. , following a 52-week high recorded in prior regular session.
Archer Aviation Inc. (ACHR) is +0.42 at $13.45, with 1,646,372 shares traded. As reported by Zacks, the current mean recommendation for ACHR is in the "buy range".
BigBear.ai, Inc. (BBAI) is +0.04 at $8.56, with 1,362,358 shares traded. BBAI's current last sale is 142.67% of the target price of $6.
NuScale Power Corporation (SMR) is +1.77 at $55.20, with 1,169,674 shares traded. SMR's current last sale is 136.3% of the target price of $40.5.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Pre-Market Most Active for Oct 16, 2025 : NIO, TSLL, BITF, SQQQ, CRML, IONZ, NVDA, LAC, TSM, ACHR, BBAI, SMR

In trading on Wednesday, the Amplify Junior Silver Miners ETF is outperforming other ETFs, up about 4.3% on the day. Components of that ETF showing particular strength include shares of Avino Silver & Gold Mines, up about 17% and shares of Hecla Mining, up about 6.8% on the day.
And underperforming other ETFs today is the VanEck Rare Earth/Strategic Metals ETF, off about 3% in Wednesday afternoon trading. Among components of that ETF with the weakest showing on Wednesday were shares of MP Materials, lower by about 9.7%, and shares of Lithium Americas, lower by about 8.3% on the day.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Wednesday's ETF Movers: SILJ, REMX

The NASDAQ 100 Pre-Market Indicator is up 257.82 to 24,837.14. The total Pre-Market volume is currently 219,126,633 shares traded.
The following are the most active stocks for the pre-market session:
Australian Oilseeds Holdings Limited (COOT) is +3.2952 at $4.26, with 83,865,242 shares traded.
Bitfarms Ltd. (BITF) is +0.38 at $6.27, with 8,319,116 shares traded. As reported by Zacks, the current mean recommendation for BITF is in the "buy range".
Direxion Daily TSLA Bull 2X Shares (TSLL) is +0.46 at $19.76, with 7,808,036 shares traded. This represents a 214.15% increase from its 52 Week Low.
Canaan Inc. (CAN) is +0.32 at $2.12, with 7,792,012 shares traded. As reported by Zacks, the current mean recommendation for CAN is in the "buy range".
ProShares UltraPro Short QQQ (SQQQ) is -0.43 at $14.88, with 6,596,550 shares traded., following a 52-week high recorded in prior regular session.
T1 Energy Inc. (TE) is +1.24 at $5.25, with 5,845,296 shares traded. As reported by Zacks, the current mean recommendation for TE is in the "strong buy range".
NVIDIA Corporation (NVDA) is +4.55 at $184.58, with 4,994,992 shares traded. As reported by Zacks, the current mean recommendation for NVDA is in the "buy range".
Lithium Americas Corp. (LAC) is +0.4398 at $10.49, with 4,260,722 shares traded. LAC's current last sale is 166.5% of the target price of $6.3.
D-Wave Quantum Inc. (QBTS) is +3.02 at $46.08, with 2,357,298 shares traded., following a 52-week high recorded in prior regular session.
BigBear.ai, Inc. (BBAI) is +0.35 at $9.26, with 2,238,924 shares traded. BBAI's current last sale is 154.33% of the target price of $6.
Bank of America Corporation (BAC) is +2.21 at $52.30, with 2,197,736 shares traded. Over the last four weeks they have had 4 up revisions for the earnings forecast, for the fiscal quarter ending Sep 2025. The consensus EPS forecast is $0.94. Smarter Analyst Reports: Citi Halts Share Buyback Amid New Regulation
NuScale Power Corporation (SMR) is +3.07 at $48.86, with 1,517,524 shares traded. SMR's current last sale is 120.64% of the target price of $40.5.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Pre-Market Most Active for Oct 15, 2025 : COOT, BITF, TSLL, CAN, SQQQ, TE, NVDA, LAC, QBTS, BBAI, BAC, SMR

For Immediate Release
Chicago, IL – October 15, 2025 – Today, Zacks Investment Ideas feature highlights Lithium Americas LAC, MP Materials MP, USA Rare Earth USAR, Trilogy Metals Inc TMQ and JPMorgan Chase JPM.
Washington & Wall Street Mobilize for Rare Earth Independence
Friday, a single “Truth Social” post from US President Donald Trump resulted in a near-instant $2 trillion loss in market value. For market watchers who participated in the April 2025 market, the feeling was all too familiar: any trade escalation between the world’s two largest economies results in a devastating market swoon.
Recently, relations between President Trump and Chinese President Xi Jinping appeared to be thawing. However, in a long-ranging social media post, President Trump accused China, the world’s largest rare earth processor and producer, of using its monopoly to hold the US captive (China mines ~70% of rare earth minerals and processes ~90% of them).
Why Are Rare Earth Elements So Important?
Rare earth elements (REE) are a group of 17 chemical elements that are critical components in numerous modern technologies, including medical instruments like MRIs, electric vehicles, solar panels, batteries, smart phones, and jet engines.
Rare Earths: The New “Cold War”
The second half of the last century culminated in a “Cold War” predominantly between the United States and the Soviet Union. Though no direct fighting between the two adversaries ever took place, the Soviet Union and the United States competed in nuclear supremacy, space exploration, and world leadership.
Today, a similar Cold War is taking place between China and the United States. Amid a lopsided trade balance, President Trump has levied wide-ranging tariffs against China. In retaliation, China is using its dominant position in rare earth elements for negotiating leverage.
US Government Pushes to Secure Rare Earth Independence
Though the rhetoric between the US and China has cooled since President Trump’s Truth Social post, the US appears to be taking no chances. US rare earth stocks, such as Lithium Americas, MP Materials and USA Rare Earth have surged over the past few months following the US government’s acquisition of equity stakes and pledge financial support. Meanwhile, Trilogy Metals Inc jumped more than 200% in a single session earlier this month after the US government took a 10% stake in the company.
However, according to a Financial Times report, the US is not finished. According to filings from the Defense Logistics Agency (DLA), the US Department of Defense acquired ~$1 billion in critical minerals. Meanwhile, $7.5 billion has already been earmarked for essential minerals in the recently passed “One Big Beautiful Bill Act.”
JPMorgan Chase Enters the Rare Earth Market
The US government is not the only force sending rare earth stocks into the stratosphere. JPMorgan Chase, the largest US bank, announced Monday that it will help to create and fund a decade-long $1.5 trillion initiative to support US economic and national security interests (with a focus on supply chain, defense, energy independence, & AI). JPM will pledge up to $10 billion of its own capital.
Manhattan Project 2.0: Rare Earth Independence
Though rare earth stocks have already soared in 2025, the recent REE news suggests that they are merely at the beginning of a multi-year trend. The US government appears to be taking an “all hands-on deck” approach similar to that of the “Manhattan Project.” Treasury Secretary Scott Bessent echoed the notion, calling the rare earth efforts an equivalent to the COVID-era “Operation Warp Speed.”
Bottom Line
The $2 trillion market reaction to President Trump’s accusation that China is weaponizing its near-monopoly on critical rare earth elements signals a new “Cold War” over these essential technology components. As a result, the US government is investing billions and securing equity stakes across domestic REE producers, while major private players like JPMorgan Chase launch multi-trillion-dollar initiatives.
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
Zacks' Research Chief Names "Stock Most Likely to Double"
Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.
This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.
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MP Materials Corp. (MP) : Free Stock Analysis Report
USA Rare Earth Inc. (USAR) : Free Stock Analysis Report
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.