General Motors EV Partner Sees Director Buy More Stock

Textual content measurement

MP Components

inventory has slipped this 12 months, and director Randall Weisenburger bought additional shares of the rare-earths miner.

MP Components (ticker: MP) shares have slipped 21% so significantly this 12 months, somewhat additional than the 18% drop in the

S&P 500 index
.
The company has a deal “to build a completely built-in U.S. provide chain for scarce-earth magnets” with

Standard Motors

(GM). A leg up from the Biden administration previously this year at first benefited the electrical-car or truck offer chain. MP Resources went community in late 2020 by merging with a exclusive-function acquisition corporation, and we observed that even with the 2022 slump, the shares have supplied a hefty return to early buyers by way of Could.

Weisenburger paid out $1 million on June 16 for 30,000 MP Components shares, an ordinary value of $33.25 each, according to a type he filed with the Securities and Exchange Fee. He now owns 146,901 MP Products shares. A former main economic officer of

Omnicom Team

(OMC), Weisenburger joined MP Materials’ board in 2020.

---

Publication Indication-up

The Barron’s Everyday

A early morning briefing on what you want to know in the day ahead, such as special commentary from Barron’s and MarketWatch writers.

---

Weisenburger declined to comment on his stock obtain.

He past bought MP Materials inventory on the open up industry in December when he paid out $3.5 million for 86,901 shares, a for each-share regular selling price of $40.10.

Weisenburger also serves on the board of cruise large Carnival (CCL), and acquired $1.2 million of those shares in May possibly.

Inside Scoop is a normal Barron’s element covering stock transactions by corporate executives and board members—so-known as insiders—as perfectly as big shareholders, politicians, and other prominent figures. Because of to their insider status, these investors are required to disclose inventory trades with the Securities and Exchange Fee or other regulatory groups.

Create to Ed Lin at [email protected] and stick to @BarronsEdLin.