Critical minerals and lithium ion battery recycling firm American Battery Technology Company (OTCMKTS:ABML) was in focus among investors on Monday and saw its stock end the day with gains of as much as 7%.
Market Reaction
On Monday, ABML stock moved up 7.40% to $1.16 with more than 1.42 million shares, compared to its average volume of 2.23 million shares. The stock moved within a range of $1.0500 – 1.1600 after opening trade at $1.07.
American Battery Technology Company Hires Critical Minerals and Precious Metals Strategic Financial Development Expert as CFO
The company saw its stock go on a rally after it announced that it had appointed a new Chief Financial Officer in the form of Kimberley Eckert. Considering the fact that Eckert is a highly experienced executive, there was a sense of optimism among investors and that was reflected in the price action in the stock on Monday.
In this regard, it may be a good idea to take a look at her credentials and get a better idea about the appointment. Eckert commands more than two decades worth of experience in the corporate finance and the strategic mineral development industry.
More importantly, she worked in the precious metals and critical minerals industry. Hence, it is a match that could end up working perfectly for American Battery Technology Company. At this point in time, it may be a good idea for investors to consider adding the stock to their watch lists and watch out for further developments in the coming days.
Key Quote
“In order to address the near insatiable demand for low-environmental impact, low-cost, and domestic US-sourced critical battery materials, we have been rapidly accelerating the commercialization of both our lithium-ion battery recycling technologies and our primary lithium and battery metal manufacturing technologies,” stated Ryan Melsert, CEO and Chairman of American Battery Technology Company.
Traders Review
ABML stock is trading below 20-Day and 50-Day Moving averages of $1.19 and $1.10 respectively. Moreover, the stock is trading below the 200-Day moving average of $1.24.
