One of America’s biggest lithium miners soared after the U.S. government approved their plan to exploit the Thacker Pass lithium deposit. Lithium Americas, which owns 100% of Thacker Pass, expects its lithium contents to currently be worth $2.6 billion. Lithium is a key component of batteries used in electric vehicles, smartphones and other computing products. $LAC will now have to secure state permits and water rights, but investors are making moves now based on the demand in lithium. The stock is up 33% on the news.
Drones have been used to deliver packages, record video, collect data and monitor crops and agriculture. Given the insight to be had from drones, it’s no surprise that one company leveraging “drone solutions” is capturing a lot of attention from investors. Enterprise of AgEagle, a drone-centric business for agriculture, has doubled since the start of the year. Today, $UAVS is up 22% as bullish investors continue to pile into the stock.
Tencent Music owns 56% of China’s music streaming market. Now they’re hungry for more listeners. $TME rose today on the news that they’re making a pivot into radio and podcasting with their acquisition of Lazy Audio, a prominent audiobook, podcast, and radio platform in China. The acquisition has boosted $TME over 21% in today’s trading. The jump values Tencent, which counts companies like Spotify and Sony Music among its core shareholders, at over $44 billion.
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