Lithium mining stocks continue to steal the spotlight amid AI buzz. American Battery Technology Co (NASDAQ:ABAT) was last seen 33% higher to trade at $8.98, after the company finished a series of National Environmental Policy Act (NEPA) baseline studies for its Tonopah Flats Lithium Project.
ABAT scored a two-year high of $10.18 right out of the gate, and is on track for a sixth-straight daily gain, as well as its best single-day percentage pop since Dec. 24. Shares started the month with a rally right out of penny stock territory, and now sport a 267.3% year-to-date lead.
Options traders are chiming in on ABAT, with 54,000 calls and 13,000 puts exchanged so far today -- six times the volume typically seen at this point. Most active is the October 10 call, where positions are being opened.
Shares of Lithium Americas Corp (NYSE:LAC) are higher as well, up 11.4% at $8.35 at last glance. The stock is extending its recent rally amid U.S.-China trade discourse, as China is the world's largest producer of lithium batteries.
LAC conquered the $5 region in late September, and is resuming its rally after a pullback from its Oct. 6, 52-week high of $9.48. The equity is trading well above all moving averages between the 10- and 320-day trendlines, and has added a massive 206.9% over the past six months.
An unwinding of pessimism could boost LAC, as 10 of the 13 brokerage firms in coverage still sport a "hold" or worse rating. Plus, 13.2% of the security's available float is currently sold short.
