Lithium ion battery recycling technology firm American Battery Metals Corporation (OTCMKTS:ABML) was one of the companies to have come into major focus this past Friday and its stock ended the day with gains of as much as 34%.
While the rally in the stock was considerable, it is also necessary for investors to keep in mind that there was no news about the company on Friday. However, back on August 12 the company was in the news after it commended the United States Senate for having passed the bipartisan infrastructure investment and jobs act.
The legislation could prove to be a major blessing for American Battery Metals Corporation considering the fact there is a lot of focus on investments in the green energy and electric vehicle industries. Those are two industries with which American Battery Metals Corporation is intimately linked and hence, the commendation from the company was understandable.
Doug Cole, who is the Chief Executive Officer of the company, stated that if the legislation is actually passed by the United States House of Representatives then American Battery Metals Corporation is going to be ready to move its energy related operations to vehicle electrification. It remains to be seen if the stock can continue to add to its gains today.