Why Is Standard Lithium Stock Soaring Today?
Shares of Standard Lithium (NYSEMKT: SLI) are soaring on Wednesday, up 8.3% as of 12:47 p.m. ET. The jump comes as the S 500 (SNPINDEX: ^GSPC) and Nasdaq Composite (NASDAQINDEX: ^IXIC) rose by 0.5% and 0.8%, respectively.
This week, the Trump administration took equity stakes in both Trilogy Metals and Lithium Americas in an effort to beef up the U.S. supply of critical minerals. Standard Lithium's stock is rising on hopes a similar deal will be made in the near future.
The White House announced the investments on Monday that give the U.S. government a 10% stake in Trilogy and a 5% stake in Lithium Americas. The strategy of direct investments in return for equity in public companies is not unprecedented, but the frequency and scale of investments from this administration are -- especially in peacetime.
Source Fool.com
