Why Standard Lithium Stock Jumped 58% in September
Standard Lithium (NYSEMKT: SLI) stunned the market in September, its shares gaining an astounding 57.6% in the month according to data provided by S&P Global Market Intelligence. With those gains, the lithium stock didn't just deliver its best month in 2021 so far but is now up a staggering 241% this year.
Standard Lithium shares jumped double digits on the very first trading day of September after the company announced the installation of a lithium carbonate plant at its flagship lithium brine project, the Lanxess project, near El Dorado, Arkansas.
It's a milestone, as Standard Lithium says the installation and wet commissioning of the plant means it is closer to operating the brine-to-carbonate plant at full capacity to produce highest-purity (99.9%) battery-grade lithium compounds for use in the lithium-ion batteries that go into electric vehicles. As that'll eventually be Standard Lithium's bread and butter, the development spurred heavy investor interest in the lithium stock.
Source Fool.com