American Battery Stock Hits 22-Month Highs Driven By Bullish Momentum Surrounding Domestic Lithium Supply Chain

American Battery Technology Co. (ABAT) stock was in the spotlight on Monday afternoon after it hit a 22-month high on bullish signals around the domestic lithium supply chain. 

The stock saw an 80% increase in user message count over the last 24 hours as of Monday morning on Stocktwits. At the time of writing, American Battery stock pared some of the gains and traded over 12% higher. Retail sentiment around the stock shifted to ‘bullish’ from ‘extremely bullish’ territory the previous day. Message volume changed to ‘high’ from ‘extremely high’ levels in 24 hours.

A bullish Stocktwits user explained that the development of domestic lithium supply will also help with recycling. 

Another user sounded optimistic about the company’s growth prospects over the next five years. 

Supporting these claims is the company’s partnership with Call2Recycle, announced on September 30, aiming to boost lithium-ion battery recycling nationwide.

Under the new collaboration, batteries collected from Call2Recycle’s expansive drop-off network will be routed to American Battery’s facilities for processing. There, the company will utilize its proprietary closed-loop technology to extract valuable materials, such as lithium, nickel, cobalt, and manganese, with minimal environmental impact.

In the fourth quarter, American Battery’s revenue rose 183% year-over-year (YoY) to $2.8 million, beating the analysts’ consensus estimate of $1.2 million, according to Fiscal AI data. 

In August, the company's Tonopah Flats Lithium Project received approval from the FAST-41 Permitting Council and the National Energy Dominance Council, accelerating its permitting and commercialization process.

American Battery stock has gained over 122% year-to-date and over 416% in the last 12 months. 

Also See: Plug Power Stock Hits 17-Month Highs On Optimism Around Company’s Hydrogen Projects

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