After closing the last session at $2.2000 after a growth of 7.84%, the market cap of the American Battery Metals Corp (OTCQB: ABML) stands at $1.16B. A total of 6.36M shares have been traded recently, below its average daily volume of 8.26M. Moreover, the ABML stock has been trading between $1.900 and $2.2000 a share in the last session. There are more than 348.12 million shares of the float as opposed to 527.4 million shares outstanding at the pink sheets company.
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Why the stock surged?
With three divisions of extraction technology, primary resources, and lithium-ion battery recycling, American Battery Technology Company is uniquely positioned to supply battery metal. A public statement by the Company on its approach to executing an ambitious business plan recently detailed its dedication to its lithium-ion battery recycling facility in Fernley, Nevada. The company is also in the process of changing its name to American Battery Technology Company (“ABTC”)
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The ABML issued a press release yesterday stating they became aware of false and defamatory information posted on March 9 and March 10, 2021. As a result of that press release, the stock’s surge ended speculation on its downward spiral.
Company’s statement in brief:
- Company stated that the management believes its shares were lowered by the false and misleading statements released in a coordinated campaign by short-sellers.
- Recent decreases in the ABML stock price are thought to be a result of the false allegations and misinformation spread recently about the Company.
- Despite the false statements, company shareholders are reminded not to react to them.
- For relevant information about the Company’s technology and business operations, the Company advises investors to review its public filings.
- Moreover, because of these false accusations, ABTC intends to defend itself vigorously.
- In order to hold the responsible parties responsible for the unauthorized attacks, all the legal options available to the company are being reviewed.
- With regard to this matter, ABTC is seeking advice from an acclaimed law firm and intends to utilize all legal measures to ensure shareholder protection.
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Growth prospects:
American Battery Metals Corporation (ABML) is an American-owned lithium-ion battery recycling technology and advanced extraction company. It has created an environmentally-friendly technology platform through which electric cars, grid storage applications, consumer electronics, and tools are powered by more primary metals, which in turn increases the production of primary metals. With the work of the green platform, battery metals extracted by the ABML can be reused and recovered ethically and sustainably.