Why Standard Lithium Stock Is On Fire Today
Standard Lithium (NYSEMKT: SLI) stock came under fire after a short-seller recently questioned the lithium company's business viability and claims, but investors are paying greater attention to other developments at Standard Lithium, like the one today that's sent the lithium stock soaring. As of 11:10 a.m. ET Nov. 24, Standard Lithium shares were jumping 13.7% higher.
On Nov. 24, Standard Lithium reported it will receive $100 million from Koch Strategic Platforms and will issue nearly 13.48 million shares at a price of $7.42 a share in return. Koch Strategic Platforms is a subsidiary of private equity firm Koch Investments Group, which itself is a subsidiary of Koch Industries, and primarily invests in futuristic technologies and companies.
Issue of stock means share dilution, which is typically seen in negative light among investors in stocks. But it's a different ballgame altogether in Standard Lithium's case, which is why its stock is surging today.
Source Fool.com
