Lithium Americas (LAC) Jumps to All-Time High as US Govt Eyes 10% Stake

We recently published Massive Gains: 10 Stocks Investors Can’t Stop Buying. Lithium Americas Corp. (NYSE:LAC) is one of the top performers on Thursday’.

Shares of Lithium Americas rallied to another all-time high on Thursday, as investors continued to load up positions following news that the US government was keen on acquiring a sizable stake in the company.

In intra-day trading, Lithium Americas Corp. (NYSE:LAC) soared to its highest 52-week price of $7.53 before paring gains to end the day just up by 22.63 percent at $7.37 apiece.

According to a report by Reuters, the Trump administration was setting its sights on a 10-percent stake in the lithium developer, as it sees the company supporting domestic lithium production and bolstering the production of rechargeable batteries.

General Motors, which is partnering with Lithium Americas Corp. (NYSE:LAC) for the development of the Thacker Pass Mine in Nevada, also rallied following the report.

Thacker Pass, which secured a $2.26 billion loan from the Department of Energy under the Biden administration, is expected to be fully operational by 2028 and become the largest supplier of lithium in the Western Hemisphere.

While we acknowledge the potential of LAC as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.