Tesla
had bad news for producers of EV raw materials as it offered investors a look at its plans in a widely anticipated three-and-a-half hour presentation on Wednesday evening.
Shares of the rare-earth producer
MP Materials
(ticker: MP) were down 11.2% in premarket trading Thursday, while stocks of companies that make semiconductors using silicon carbide took a hit as well. Futures on the
S&P 500
future were down 0.5%.
Dow Jones Industrial Average
futures gained 0.3%.