ABML Stock Price: 19.93% Increase Explanation

By Amit Chowdhry ● May 23, 2021
  • The stock price of American Battery Metals Corp (OTCMKTS: ABML) increased by 19.93% on Friday, May 21. This is why it happened.

The stock price of American Battery Metals Corp (OTCMKTS: ABML) — an American-owned lithium-ion battery recycling technology and advanced extraction company, which is in the process of changing its name to American Battery Technology Company — increased by 19.93% on Friday, May 21. Investors responded have been responding positively to the company announcing recently that it submitted a formal application to list its common shares on the Nasdaq Stock Market (NASDAQ).

The acceptance for listing the company’s shares is subject to approval based on several factors including satisfaction of minimum listing requirements for the NASDAQ. And the company plans to satisfy all of the applicable listing requirements. During the NASDAQ review process, the company’s common stock will continue to trade on the OTC under its current symbol ABML.

“We believe listing our common stock on the NASDAQ will improve liquidity, increase our corporate visibility in the financial markets, and create shareholder value,” said Doug Cole, Chairman and CEO of American Battery Metals Corporation in a statement. “We believe that listing on the NASDAQ is a natural progression for the Company and our shareholders.”

On May 13, 2021, American Battery Metals received approval from the City of Fernley Planning Commission for a Conditional Use Permit (CUP) for a lithium battery recycling plant at last night’s monthly commission meeting. This recommendation is the first step and the application will now go to the Fernley City Council for final consideration. And the Planning Commission’s recommendation to approve the CUP signals continued progress in permitting and constructing ABTC’s lithium battery recycling pilot plant in Fernley, Nevada.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.