Lithium Americas Corp (LAC) continues to grow this year and no signs of slow-down. Increased battery production for electric vehicles is the main driver.
Even seasoned investors and traders sometimes feel overwhelmed by the complexities of the stock market. Although a trader may have received what he or she expected, the market sometimes makes the opposite decision. This volatility can cause some traders to doubt their decisions and second-guess them. Because of this, getting to know historical price performance is crucial. The LAC price has soared by 17.25% over the past week. The stock has gained 103.52% over the past three months, 219.24%. Over the past six months, and 445.17% since the start of the year.
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At least two trends supported the growth of Lithium Americas Corp (LAC) quotes in January 2021. First, the US Senate elections went in Democratic favor. The US Democratic Party also controls both Congress houses, which makes investors confident about the future development of renewable energies and electric transportation in the country. Lithium, one of the key ingredients in battery production, will be more in demand.
This year’s surge in Lithium Americas quotes was because of a contract between Tesla and the Chinese manufacturer Yahua International Investment and Development. However, such a contract is evidence that lithium consumption in the world market is increasing. Lithium Americas is not a part of this deal and is not a supplier of Tesla either.
Lithium Americas Corp (LAC) can enter new markets by taking advantage of the conditions for price growth, and the result is expected to be the growth of the lithium supply.
Second, Lithium Americas is rapidly expanding. According to the company, the Thacker Pass lithium project is nearing commercialization in Nevada. Lithium Americas has already applied for key permissions from the government and water rights transfer. A regulator’s decision is expected later this year.
This presents an advantage for Lithium Americas, but the stock price remains volatile so far since the company is not yet mined for commercial sale.
Lithium Americas Corp (LAC) started the day at $22.57 and reached an intraday high of $23.19. The stock also hit an intraday low of $19.62 on Monday. Lithium Americas Corp traded at a volume that was significantly below the average daily volume on Monday. On Monday, the stock had a total volume of 11.79 million, which is smaller than -72.1% of the daily average.