To speak of green energy and electric vehicles, American Battery Metals (ABML) is an electric vehicle penny stock to watch. (ABML) the stock closed up 18.79% from the previous close to reaching $2.3045 yesterday. During the day, the stock price ranged from $1.81 to $2.54, with a volume of 27,629,533.
What is happening in the recent past of the stock?
As a result of speculation on the EV space, the ABML stock has risen from under $0.40 to over $2 since mid-December. However, there are plenty of things to consider when looking for possible catalysts despite the lack of new headlines. These include the company’s expansion plans. In line with this, a name change has been proposed for American Battery Technology Company.
As a matter of context, American Battery Metals (ABML) has extensive mineral resources in Nevada. It also promotes the recycling of lithium-ion batteries. This year, American Battery announced several milestones it has achieved as it continues its plans to open the first lithium-ion battery recycling plant in the United States. An agreement for the land purchase, securing water rights, and hiring a construction firm have all been reached.
One thing to keep in mind is that the permitting process is still in its final stages. A new timeline is expected to be announced in “early 2021” by the company.
American Battery Metals (ABML) may continue to push new highs considering this and the current state of EV-related stocks, as well as Biden’s push for green energy.