Why Standard Lithium Stock Sank on Thursday
Standard Lithium (NYSEMKT: SLI) was the subject of investor interest on Thursday, thanks in no small part to an important operational update. Although the stock traded nearly 7% higher at one point during the trading session, it ultimately deflated to a nearly 3% loss on the news. Meanwhile, the S 500 index landed in positive territory, closing up by 0.4% on the day.
Before market open, Standard announced that Smackover Lithium -- a joint venture between it and Norway-based energy company -- has won approval for a 2.5% royalty rate on a project in Arkansas.
Image source: Getty Images.
Source Fool.com
