.
I think your first surmise is correct.
Tomorrow (Thursday) seems like it should be something of a re-run of today's action. I don't suspect profit-taking is going to be a big issue.
My main reason for saying that: Unless China and the U.S. patch up all their trade disagreements, hug and kiss, and ride happily off into the sunset (which doesn't seem likely any time soon), the continuing uncertainty about the rare-earth overseas supply line will continue to drive interest in domestic production of these vital compounds.
And to take this logic a step farther: If China actually pulls the trigger on their threatened embargo (note carefully I did say "IF"), then the doors and windows and roof will all be blown off. This stock won't be merely on the moon — the moon will be in the rear-view mirror. JACKPOT, in other words.
An additional observation: This is rather an arcane subject and an arcane product. It is not like (to give one example) news of a big drop in oil prices hitting the wires, where even the most casual market-players will understand instantly that it bodes well for airline stocks. This is more complex, and requires a fair bit of studying up...... which tells me this príce run-up is probably not an "amateur mob action." The sudden and intense interest is, I believe, being driven by people who have done their homework.
Note that I don't claim any great financial expertise behind that theory — I'm only employing what I believe (and hope) is some sound logic. Time will tell.
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