Standard Lithium Ltd (OTCMKTS:STLHF) Stock Continues to Hit New Highs: What Next?
Innovative technology and lithium project development firm Standard Lithium Ltd (OTCMKTS:STLHF) announced it has got approval for listing the outstanding common shares on the New York Stock Exchange American.
Trading will begin on July 13 and ticker symbol will be “SLI”. The company’s common shares will still be trading on the TSX Venture Exchange. CEO Robert Mintak said that the firm is privileged on receiving approval for listing and is a huge achievement for the company. Mintak said that that it would ameliorate the firm’s profile in US capital markets, augmenting exposure to a diverse group of retail and institutional investors.
Dr Andy Robinson, President and Chief Operating Officer said that the firm’s team is diligent to become the next lithium producer in the country and ensuring the right approach, extraction and sustainability are all a part of the operations. Robinson also said that the listing is a critical step in growing the firm and facilitate achieving corporate goals in the coming times.
The firm’s shareholders do not need to take any action for listing on the stock exchange. Shareholders that are trading on the current OTCQB platform would be able to trade after the listing completion.
Standard Lithium is a Canadian company doing lithium extraction in south Arkansas. The firm has opened doors based on the pipeline infrastructure with project partner Lanxess Corp.
Market Reaction:
On Friday, STLHF stock jumped 2% at $4.79 with more than 666k shares, compared to its average volume of 262k shares. The stock had moved within a range of $4.7100 – 4.9300 after opening the trade at $4.93. Over the past 52-week, the stock has been trading within a range of $0.7620 – 4.9300.
