Critical Metals Corporation (CRML) saw its stock price surge 5.57% intraday, continuing its recent strong performance. The company has been in focus due to its strategic projects in Greenland and investor interest in rare earth supply chains.
The surge follows the company's approval and commencement of construction for an Arctic-grade storage and pilot-plant facility in Qaqortoq, Greenland. This milestone, coupled with Greenland's geopolitical importance for Western rare earth supply chains, has driven investor optimism. The stock has already delivered a 98.13% return over the past 7 days and a 105.22% return over the past year, reflecting strong momentum.
While the stock's valuation (P/B of 15.7x) appears high compared to peers, the market seems to be pricing in future growth potential tied to its Greenland projects and rare earths exposure.