American Battery Technology Company (OTCMKTS:ABML) stock surprised investors on Tuesday morning when it appeared to rocketing more than 1,300% higher.
However, today’s stock movement is simply the result of the battery materials company’s shares undergoing a reverse split. American Battery Technology Company’s Board of Directors approved a one-for-15 reverse stock split as part of an effort to boost the price of its shares.
American Battery Technology Company used this reverse stock split to prepare for a switch of exchanges. The company is moving away from its listing on the OTCQX Markets in favor of a listing on the Nasdaq Capital Market.
What This Means For ABML Stock
With all of this news and movement, it comes as no surprise that shares of ABML stock are seeing heavy trading on Tuesday. As of this writing, more than 228,000 shares of the company’s stock have changed hands. That’s already well above its daily average trading volume of about 95,000 shares.
American Battery Technology Company is a battery materials company focused on supplying battery metals. This has its business covering the development of tolls for extracting battery metals, as well as handling the recycling of lithium-ion batteries.
ABML stock is down slightly on Tuesday morning following its reverse stock split.
Investors looking for even more of the most recent stock market news today will want to continue reading!
We have all of the latest stock market news that traders need to know about on Tuesday! Among that is what’s going on with shares of Datasea (NASDAQ:DTSS), Acelyrin (NASDAQ:SLRN), and Ascent Solar Technologies (NASDAQ:ASTI) stock today. All of that news is ready to go at the links below!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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