Why Lithium Americas Stock Dropped 6% Today
Shareholders of lithium miner Lithium Americas (NYSE: LAC) have endured a wild recent stretch. One of the company's main lithium mine projects passed an important milestone last week, prompting a sharp rise in the stock. Shares have subsequently settled back down, and as of 1:30 p.m. EST on Wednesday, the stock was lower by 6%.
Shares of Lithium Americas soared last week after the U.S. Bureau of Land Management issued the Record of Decision for the company's Thacker Pass lithium project following completion of the National Environmental Policy Act process. The Nevada mining project is one in which the company has 100% ownership.
"With the federal permitting process complete, our focus is on advancing the financing process including discussions with potential strategic partners," Lithium Americas President and CEO Jon Evans said in a statement.
Source Fool.com
