Call Details
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- Confirmation Number: 13730648
- Slides & Video Links: CLICK HERE
Please join us for a review of Best Ideas Long, MP, as well as the EV metals and materials long case today @ 12:30PM EST.
Our surveys suggest less differentiation among EV offerings and the adoption is not the hurdle as consumers want EVs - it's the EV supply chain, which will limit penetration to single digits in the next ~5 years. Pure play EV OEMs are unlikely to capture the exceptional returns implied by current equity valuations, with that value heading toward bottlenecks in EV metals & EV infrastructure.
Concerns about competitive entry appear misplaced - if anything, additional materials from other US plants would likely end up being processed at MP facilities for years. MP expects Stage 2 concentrate processing to be complete by year-end, with ramp-up during 2023. With ~$1bln EBITDA run rate in 2023 ahead of Stage 3 magnet fabrication growth, it isn't hard to see how this uniquely positioned, DoD supported, well-managed materials company could trade well into the $60s per share in the next year as many related equities like TSLA or LCID are derated.
