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Why Piedmont Lithium Stock Popped Today

TheMotleyFool

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Why Piedmont Lithium Stock Popped TodayPhoto, wide shot, wide-angle lens, Gold mine, Midday, harsh overhead sunlight, directional sunlightt, photo by Thomas Heaton: https://img.midjourneyapi.xyz/temp/94faf2bd-99c1-4ea6-b55d-fdcab23c3865.png

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