This past week the American Battery Metals Corporation (OTCMKTS:ABML) stock was in the middle of a strong selloff and ended up clocking declines of as much as 12% through the week. There was no news about the lithium ion battery recycling technology company last week but many investors decided to head for the exits nonetheless.
However, earlier on in the month the company commended the United States Senate for the passage of the Infrastructure Investment and Jobs Act. The act actually includes provisions for considerable focus on investments in the green energy and electric vehicle industries.
Such a move could prove to be highly beneficial for American Battery Metals Corporation and the commendation from the company was perhaps no surprising. Doug Cole, who is the Chief Executive Officer of the company, spoke about the development as well. He stated that the legislation from the United States Senate is supportive of direct investments in the battery recycling technology space so that a local supply chain of critical materials could be built.
He went on to add that if the legislation is actually passed at the House of Representatives the company will be willing to support the move towards electric vehicles.