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Benzinga
Benzinga
Business
Dylan Berman

Abermarle Shares Are Trading Higher Wednesday: What's Going On?

Donald Trump lithium ALB Albemarle Albemarle Corporation Lithium Americas Lithium Americas Corp
Albemarle Stuttgart,,Germany,-,06-12-2022:,Person,Holding,Smartphone,With,Logo,Of

Shares of Albemarle Corporation (NYSE:ALB) are trading higher Wednesday alongside several other lithium stocks after Lithium Americas Corp. (NYSE:LAC) surged on reports that the Trump administration is seeking an equity stake in the company.

What To Know: According to Reuters, the Trump administration is seeking up to a 10% equity stake in Lithium Americas as a part of a renegotiation of a $2.26 billion loan for the Thacker Pass lithium project. The move aims to strengthen the domestic lithium supply chain for national security purposes.

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