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Why Shares of Aqua Metals Jumped Today

TheMotleyFool

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Why Shares of Aqua Metals Jumped TodayPhoto, wide shot, wide-angle lens, Coal mine, Midday, harsh overhead sunlight, directional sunlightt, photo by Thomas Heaton: https://img.midjourneyapi.xyz/temp/25526de2-54da-40ae-ba56-1e25dead3e81.png

Shares of metals-recycling company Aqua Metals (NASDAQ: AQMS) soared more than 30% early on Wednesday before settling back to a 13.2% gain as of 1:20 p.m. EST. The company announced a business strategy agreement yesterday that sent shares higher, but another announcement today has investors more excited.

The company said today that it would be investing in LINICO Corporation (LiNiCo) to broaden its scope from lead battery metal recycling into lithium-ion battery recycling. Lithium-ion batteries could become ubiquitous in the near future as the electrification of transportation takes hold.

The company will be making a $2 million stock investment for a 10% interest in LiNiCo.

Source Fool.com

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