MP · PEAD ↓ 100

MP Materials reported Q1 2026 EPS of $0.03 on 2026-05-07, missing the $0.0841 consensus by 64.3%.

Print-day reaction was –4.8% versus the prior close of $72.65, pulling the stock back below its intraday open despite a gap-up open. The overnight gap to the T+1 open recovered +6.6%, a sharp bid that looked like a potential fade of the sell-off. That recovery proved illusory: over the subsequent two trading sessions the stock drifted a further –2.7%, erasing the overnight pop and then some. Cumulative abnormal return of –10.3% versus SPY.US firmly places this in PEAD short territory; the drift pattern argues for holding the read through 2026-08-04.