Watch This John Paulson Critical Mineral Investment as Correction Gains Steam
The billionaire hedge fund manager is the largest shareholder in this 'vital source.' Here's what else is on my shopping list.
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Corrective action is gaining momentum on Wednesday morning. Growth stocks are leading to the downside as the Innovator IBD 50 ETF FFTY drops 3.2% and crashes through its 50-day simple moving average. The Magnificent Seven MAGS is down 2% and the Nasdaq 100 QQQ is off 1.4%. Breadth isn't bad, as money rotates into some defensive areas, but the number of new 12-month highs has dropped to just 50 names.
I reduced some of my position in Nvidia NVDA and may add it back before its earnings next week, depending on whether the stock can find some support. I'm much more interested in buying Meta META as it is filling the gap created by the earnings on July 31. I'm not buying yet, but will be aggressive at the $720 area.
There are quite a few names on my shopping list, but I'm not interested in buying into the teeth of a decline. I prefer to buy on upticks rather than downticks. SoundHound AI SOUN, Nebius (NBIS), and AST SpaceMobile ASTS are a few that I am watching closely for entries.
Groups outside technology are still holding up, and one chart I like quite a bit is Perpetua Resources Corp. PPTA, a development-stage mining company headquartered in Boise, Idaho. It is focused on exploring and developing mineral deposits, primarily gold, silver, and antimony (a critical mineral for national defense and clean energy technologies). It was founded in 2009 and formerly known as Midas Gold Corp. before rebranding.
Perpetua's flagship asset is the wholly owned Stibnite Gold Project, spanning approximately 11,548 hectares in Valley County, Idaho, which encompasses 1,674 unpatented lode claims, mill sites, and patented land holdings. The project aims to restore an abandoned historic mining site through sustainable practices, produce gold and a domestic supply of antimony, and deliver economic benefits to local communities while emphasizing environmental stewardship in line with Idaho's motto, "Esto Perpetua" (Let it be Perpetual).
Billionaire hedge fund manager John Paulson, founder of Paulson & Co, who made his fortune betting against subprime mortgages in 2006-2008, has made substantial investments in Perpetua. His firm is PPTA's largest shareholder. Paulson is also connected to the Trump administration.
As of recent data, Paulson & Co. holds a 53.10% stake in Perpetua, owning 57,118,841 shares valued at approximately $1.00 billion. A key milestone was in June 2025, when Perpetua closed a $425 million financing package to advance the Stibnite Gold Project, which included a $100 million private placement from Paulson & Co. for 7,575,757 common shares.
This investment underscores Paulson's strategic focus on the project's potential amid geopolitical factors, such as China's antimony export restrictions, highlighting Perpetua's role as a vital U.S. source of the mineral. Paulson has continued to increase his holdings, with additional purchases noted in recent quarters, reflecting confidence in the company's upside potential in gold and critical minerals.
The stock has tested the breakout level around $18 several times since June and is in a good position to break it on the next test.
At the time of publication, Rev Shark was long PPTA, NVDA, META, SOUN and ASTS.
