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.
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What is happening in the recent past of the stock?
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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.
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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.
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Conclusion
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.