Why Aqua Metals Stock Rocketed 30% at the Open Today
Shares of lead recycling specialist Aqua Metals (NASDAQ: AQMS) rose a dramatic 30% in the first hour or so of trading on Jan. 26. That follows on material gains the day before, when it was up around 20% or so. The big news behind both moves was a deal with global chemical giant BASF.
There has been a lot of change in Aqua Metals' business of late. For example, it paid off all of its debt in 2020 and, more important, shifted to an asset-light model. A fire at a facility using the company's technology in late 2019 disrupted its business and helped push forward the change process, which started in 2018. The change in focus got a big boost yesterday when Aqua Metals agreed to partner with BASF on the production of chemicals used in Aqua Metals' patented lead recycling technology.
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Source Fool.com
