By Jared Mitovich

Remember President Trump's preoccupation with Greenland? These investors sure do.

Traders piled into U.S. company Critical Metals on Friday after it grew its controlling stake in a rare-earths project in southern Greenland-helping its stock log its best one-day performance since October.

Shares of Critical Metals rose around 35% on Friday and 42% this week, the stock's largest weekly increase since January, when Trump repeatedly threatened to acquire Greenland. The increased spotlight on American interests on the Arctic island has helped boost shares of Critical Metals by more than 400% from a year ago.

The Greenland government approved the transfer of stock in the Tanbreez rare-earths mine to Critical Metals, giving it 92.5% ownership, the company said Friday.

The open-pit mine aims to tap one of the largest rare-earths deposits outside China and could give the U.S. greater control over supply chains for key materials. Chief Executive Tony Sage previously told The Wall Street Journal that he has held talks with the U.S. government about getting funding for the mine, and with Lockheed Martin over potential supply agreements.

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

(END) Dow Jones Newswires

April 17, 2026 17:04 ET (21:04 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.