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Why Shares of Piedmont Lithium Are Powering Higher This Week

TheMotleyFool

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Why Shares of Piedmont Lithium Are Powering Higher This Week: https://g.foolcdn.com/editorial/images/715558/driver-waits-for-an-electric-vehicle-to-charge-while-holding-a-smart-phone.jpg

While the S&P 500 has been flat this week, shares of Piedmont Lithium (NASDAQ: PLL) have been charging notably higher. The company announced that it has amended its agreement with Tesla, and the development has clearly electrified the bulls' excitement.

As of 10:31 a.m. ET, shares of Piedmont Lithium are up 13.8% since the end of last Friday's trading session, according to data from S&P Global Market Intelligence.

Wasting no time, Piedmont provided investors with something to celebrate on the first day of trading in 2023. On Tuesday, Piedmont reported that it has updated the terms of its agreement with Tesla regarding the delivery of spodumene concentrate, a mineral processed in the production of lithium.

Source Fool.com

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