Why Sigma Lithium Stock Soared 15% on Wednesday

Shares of Sigma Lithium (NASDAQ: SGML), the Brazilian start-up lithium miner, exploded 15.4% higher through 1:40 p.m. ET on Wednesday.

Enthusiasm over producers of lithium for electric car batteries sent Sigma Lithium shares soaring last year -- up triple in 12 months. Earlier this year, Sigma Lithium was further linked to mergers & acquisitions activity with Tesla (NASDAQ: TSLA) as the purported buyer.

Today, those rumors are getting a refresh as Sigma Lithium confirms it may be for sale.