Why Lithium Americas Stock Soared 86% From Sept. 1 to Oct. 2
Lithium Americas (NYSE: LAC) stock has produced electrifying recent gains. Shares of the Canada-based junior lithium mining company skyrocketed 44.2% in September and have raced out of the gate in October, gaining 29.1% in the first two trading days of the month. That brings their total gain to 86.1% in just over a month.
The company isn't currently generating any revenue or profits. It has two mining projects under development: Cauchari-Olaroz in Argentina, a 51%-49% joint venture with China's Ganfeng Lithium, in which Lithium Americas is the minority owner; and Thacker Pass in Nevada.
For context, the S&P 500 (including dividends) fell 3.8% last month and lost 4.2% from Sept. 1 to Oct. 2.
Source Fool.com
