Why Piedmont Lithium Stock Popped Today
Shares of lithium mining stock Piedmont Lithium (NASDAQ: PLL) soared 15.5% through 10:05 a.m. ET Thursday as investors continued digesting news of Piedmont's planned merger with Australia's Sayona Mining.
Here's the thing: News of this merger first broke Monday night, and when investors first heard it... they didn't seem to like it much. At first, in fact, investors ignored the news -- Piedmont stock closed Monday before the announcement at $12.25 a share. It closed Tuesday after the announcement at $12.25 per share, too.
Investors' second reaction was to sell off Piedmont Lithium stock -- by 14.5% Wednesday.
Source Fool.com
