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Highlights
- Lithium Americas Corp (TSX:LAC) has been trending higher in the North American markets as on Thursday morning, March 31.
- This surge could have been triggered by reports saying that US President Joe Biden may invoke Cold War powers to aid the production of battery materials in the United States.
- LAC stock has rocketed by almost 128 per cent in 12 months.
Lithium Americas Corp (TSX:LAC) has been trending higher in the North American markets as on Thursday morning, March 31.
This surge could have been triggered by reports saying that US President Joe Biden may invoke Cold War powers to aid the production of battery materials in the United States.
Reports suggest that the US may invoke the Defense Production Act (DPA), 1950, permitting the government to fund US$ 750 million to improve the production of critical minerals for electric vehicles (EV), specifically lithium.
This development could have sparked the increased interest in LAC stock. So, let us talk about Lithium Americas’ overall performance.
Lithium Americas Corp (TSX: LAC) Q4 FY 2021 results
The Vancouver-based lithium producer held cash and cash equivalents of US$ 511 at the end of December 2021, with available credit of US$ 75 million.
The company had total assets worth US$ 817.3 million as of December 31, 2021, up from US$ 326.7 million a year ago.
Also read: Sigma (SGML) & Standard (SLI): Are these 2 TSXV lithium stocks a buy?
Stock performance of Lithium Americas
LAC stock has rocketed by almost 128 per cent in the past 12 months.
The lithium stock was trading at C$ 47.23 apiece at 10:30 AM EST on Thursday, up by nearly three per cent.
Bottomline
Lithium Americas could notably increase its US-based lithium operations if this reported development comes into picture.
However, investors interested in LAC stock should ideally keep following the latest developments in the lithium market and relatable sectors that can impact such companies engaged in lithium and other such key battery materials.
Also read: Cargojet (TSX:CJT) strikes strategic deal with DHL. Buy alert?
