Why Piedmont Lithium Stock Popped Today [Yahoo! Finance]
Piedmont Lithium Inc. (PLL)
Company Research
Source: Yahoo! Finance
Here's the thing: News of this merger first broke Monday night, and when investors first heard it... they didn't seem to like it much. At first, in fact, investors ignored the news -- Piedmont stock closed Monday before the announcement at $12.25 a share. It closed Tuesday after the announcement at $12.25 per share, too. Are You Missing The Morning Scoop? Wake up with Breakfast news in your inbox every market day. Sign Up For Free » Investors' second reaction was to sell off Piedmont Lithium stock -- by 14.5% Wednesday. And now here we are on Day 3, and Piedmont stock is up 15.5%. So, is this good news or bad? Piedmont and Sayona characterize their deal as an "all-stock merger," leaving shareholders of each company owning about 50% of the new "MergeCo" (the working title for the company post-merger) after the deal closes in the first half of 2025. Piedmont CEO Keith Phillips noted that "MergeCo will be North America's largest lithium producer," focusing on hard-rock mining
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News
- Lithium Corporation Congratulates Board Member James Brown on Role in Major Merger in the Lithium Mining Industry [Yahoo! Finance]Yahoo! Finance
- Piedmont Lithium Inc. (NASDAQ: PLL) was upgraded by analysts at Macquarie from an "underperform" rating to a "neutral" rating. They now have a $13.50 price target on the stock.MarketBeat
- Piedmont Lithium Inc. (NASDAQ: PLL) was downgraded by analysts at Roth Capital from a "strong-buy" rating to a "hold" rating.MarketBeat
- Piedmont Lithium Inc. (NASDAQ: PLL) was downgraded by analysts at Roth Mkm from a "buy" rating to a "neutral" rating. They now have a $13.00 price target on the stock, down previously from $32.00.MarketBeat
- SHAREHOLDER ALERT: The M&A Class Action Firm Investigates the Merger of Piedmont Lithium Inc. - PLLPR Newswire
PLL
Earnings
- 11/12/24 - Beat
PLL
Sec Filings
- 11/20/24 - Form 425
- 11/20/24 - Form 8-K
- 11/19/24 - Form 8-K/A
- PLL's page on the SEC website