What's Going On With Electra Battery Materials Stock?
Portfolio Pulse from Erica Kollmann
Electra Battery Materials Corporation (NASDAQ:ELBM) announced an extension and expansion of its battery-grade cobalt supply agreement with LG Energy Solution. The company will supply 19,000 tonnes of battery grade cobalt over a five-year period starting in 2025. The news has led to a surge in ELBM's stock price and trading volume.
July 25, 2023 | 4:48 pm
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POSITIVE IMPACT
Electra Battery Materials Corporation's stock price has surged following the announcement of an expanded supply agreement with LG Energy Solution.
The extension and expansion of the supply agreement with LG Energy Solution is a positive development for Electra Battery Materials Corporation. This could lead to increased revenues and profitability for the company in the long term, which is likely why the stock price has surged.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100