| It was another down day for US indexes on Tuesday. The S&P 500 lost 1.1% on the session, while the Dow fell 1.0% The NASDAQ also took a 1.0% loss, and the small-cap Russell 2K tumbled 1.4%. Today, futures are edging higher in early morning trading. S&P 500 contracts are up 0.2%. This Lithium Stock Could See Massive Growth ð
An undiscovered lithium stock trading below $0.30 per share just uncovered 8 high-quality targets on unexplored ground.
Drills are turning on later this year, but very few investors know about it yet, so this ground-floor opportunity below $0.30 won't be around much longer. It's a new breed of lithium stock, and shares could be on course to explode. Get the Name and Trading Symbol Here The USD hit a 20-Year High on Tuesday. The WSJ Dollar Index hit its highest level since Feb. 2022. Rising oil price have propped up the reserve currency despite record-high inflation in the US. A O Smith Corp [AOS] - Last Close: $51.22 A O Smith is up following an SEC disclosure. The residential and commercial HVAC manufacturer is trending after a Form 4/A filing revealed a key director had converted stock options. Senior Vice President Parag Kulkarni acquired 2,140 additional shares, bringing his total holdings to 39,10. AOS also hit a new 52-week low yesterday, so the rally could be attributed to a natural bounce off its newly-found bottom. AOS is leading the S&P 500 with a 3.5% gain in today's premarket. My Take: It's not clear whether the SEC filing has anything to do with the AOS move this morning, but it's the only news on the wire at the moment. Invahoe Electric [IE] - Last Close: $8.43 A massive insider buy is boosting shares of Ivanhoe Electric. The mineral exploration and development company recently filed a Form 4 with the SEC that revealed one of its key executives snatched up a boat-load of shares. According to the filing, Ivanhoe CEO & Director Robert M Friedland executed a purchase of 416,666 shares of stock for $3.33 million on Sept. 16th. Friedland now controls roughly 19.1 million shares of IE, and his position has a market value of roughly $153.1 million. IE is one of today's top performers with a 37.1% gain. My Take: This CEO is snatching up shares at a torrid pace. It makes me wonder if he might try to take the company private if he can gain control of enough shares. IE has suffered huge declines since last week, but today's rebound could break it out of its funk. Snow Lake Resources [LITM] - Last Close: $2.36 Snow Lake Resources is surging ahead of today's open. The Winnipeg-based lithium explorer is rallying in the premarket, but the company hasn't announced any major moves.
Instead, the rally seems to be tied to surging EV prices and recent reports on the topic from prominent financial publications. Today, The Wall Street Journal published an article on skyrocketing lithium prices resulting from soaring demand for electric vehicles. Lithium is currently going for about $71,000 per metric ton in China, almost four-times higher than its price last year and just under a new all-time high set in March. Investors are betting LITM could be in a key position to capitalize on the emerging opportunity. Shares are up 14.0% on the bullish sentiment. My Take: LITM has a very small float, with just 17.8 million shares in circulation. It's possible this move is the result of a coordinated push designed to capitalize on the lithium buzz. Be careful you don't get left holding the bag if you decide to dabble here. RA Medical Systems [RMED] - Last Close: $0.1419 RA Medical is trending after a Tuesday evening announcement. The medical device firm is rebounding sharply after it announced shareholders voted in favor of a dramatic reverse stock split. According to a recent SEC filing, shareholders approved plans for a reverse split, and the board decided on a 1-for-50 exchange ratio. RA Medical will begin trading on a split-adjusted basis on October 3rd. The company also recently announced an all-stock reverse merger with privately-held Catheter Precision. RMED is one of the premarket's most actively traded stocks, and it's showing a 26.9% gain. My Take: The reverse split doesn't have much of a material impact on the company, but it could help in listing compliance and other areas. The move seems a little overdone, but the stock just set a new 52-week low, so today's gains could be the result of a rebound rally as well. |
