USA Rare Earth Inc.（USAR）今日盘中股价大跌5.16%，引起了市场的广泛关注。
消息面上，公司近期发布的财报显示其财务状况堪忧。2024年全年净亏损1573万美元，较前一年大幅扩大86%，经营现金流持续为负，且资产负债率已突破114%，处于资不抵债的状态。此外，审计报告指出，管理层对公司未来12个月的持续经营能力存在重大疑虑，这进一步动摇了投资者的信心。
公司的核心业务进展也未能给市场带来 reassurance。其位于德克萨斯州的Round Top稀土矿尚未投产，而正在建设的俄克拉荷马州烧结钕铁硼磁体工厂预计要到2026年才能投入运营。尽管公司获得了美国政府等机构的资金支持以构建完整的稀土产业链，但市场担忧其可能面临“有产品、无市场”的挑战，因为中国厂商在全球供应链中已占据主导地位。这些因素共同导致了今日股价的显著下跌。
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