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By Samuel O'Brient You're currently following this author! Click to unsubscribe from email alerts. Chip Somodevilla/Getty Images Greenland-linked energy stocks surged on Wednesday, bolstered by Donald Trump's latest comments about US oil and gas drilling in the Danish territory.
The rally kicked off after Trump posted on Truth Social that drilling operations in Greenland were expected to begin soon. "Massive Oil, Gas, and Mineral Exploration is getting ready to begin in our new and beautiful Greenland!" he wrote. "There are Experts that are saying that the amount of easily available Oil is far greater than that of almost any land, anywhere in the World." Shortly before the drilling and exploration claim, he shared an AI-generated image of himself looking over a mountain with the caption "Hello Greenland." Stocks tied to firms with operations in Greenland have been in focus since Trump announced in September that the US had reached an agreement with Denmark giving it security control over Greenland.
Here's were the biggest moves shortly after the opening bell on Wednesday: Greenland Energy Company : +75% Greenland Mines : +25% Critical Metals Corp : 2% While Critical Metals Corp isn't based in Greenland, it owns the Tanbreez Rare Earth Project, a large rare earth mine in the southern part of the island. A response from Greenland, though, contradicted Trump's statements on the plans for mining and mineral exploration. Jørgen Hammeken-Holm, who serves as its deputy mining minister, told CNN that while there is activity from US companies, they are still "very far away from 'massive' exploration" and that smaller explorations could be years away from becoming operational.
The market's response, though, makes it clear that investors are taking it seriously. Trump's second term turned rare earth stocks into one of 2025's hottest trades as he announced White House stakes in numerous companies in the space. Now, Greenland stocks may be poised to follow a similar path as Trump continues his focus on deepening US involvement in the island territory .
Read next Business Insider tells the innovative stories you want to know Business Insider tells the innovative stories you want to know Business Insider tells the innovative stories you want to know Business Insider tells the innovative stories you want to know Samuel O'Brient You're currently following this author! Click to unsubscribe from email alerts. Samuel O'Brient is an experienced financial markets and business journalist who has written extensively on a wide range of topics involving economics, technology and public policy.
At Business Insider, he covers important macro and micro economic stories, including takes from leading economists and hedge fund managers , breaking IPOs , corporate bankruptcies , meme stocks and short-selling . He also writes on other markets such as crypto , oil and real estate .He has interviewed many of the market’s most influential voices, ranging from top economists such as Mark Zandi and Richard Thaler to prominent investors including Danny Moses , Andrew Left , Anthony Scaramucci, Louis Navellier and Grant Cardone . Programs such as LiveNOW from Fox , Taking Stock and Ticker News have had Samuel on to discuss stock market and economic developments.
His reporting has been cited by The New York Times DealBook, Bloomberg Radio, Forbes, Entrepreneur, Gizmodo and TheFutureParty. Samuel began at InvestorPlace, covering investing, retail trading and macro economic trends. Prior to joining Business Insider, he served as a technology markets reporter at TheStreet.
He is a graduate of Sarah Lawrence College and Trinity College Dublin. Samuel's work has appeared in publications such as TipRanks, EV and Observer. When he isn't chasing down stories, he can often be found browsing book and record shops.
To reach Samuel, email him at sobrient@insider.com or connect with him on LinkedIn. He is also on Signal as Samuel Clemens. Investing Wall Street Stocks More Stock Market Donald Trump Energy
Source: Business Insider
