A pure-play US lithium company, Lithium Americas (NYSE: LAC), witnessed its stock price surge over 80% during premarket Wednesday trading after reports emerged that the Trump administration is planning to buy an equity stake of up to 10% as it renegotiates terms of the company's $2.26 billion (£1.67 billion) loan from the US Energy Department for its Thacker Pass lithium project with General Motors (NYSE: GM).
The proposed stake follows the Trump Administration's intervention in taking stakes in companies like Intel (NASDAQ: INTC) and Material Corp. (NYSE: MP), as well as other tech and minerals companies it deems important to national security.
