- NYSE:LAC has stabilized around $15 after last week’s late surge.
- Lithium Americas Corp is benefiting from California’s drive toward electric cars.
- The firm’s sky-high predictions also boost the stock price.
California paves the way forward – whether for privacy regulations or for vehicles. The Golden State, which is the home of Silicon Valley, announced a ban on vehicles running on combustible engines by 2035. The goal is to push forward the usage of electric cars, which do not directly pollute the air.
EVs run on batteries, and the most significant component is lithium – and that is where Lithium Americas Corp comes into play. California Governor Gavin Newsom announced the ban on September 23, and that marks the low point for NYSE: LAC shares.
Since then, it has been on the rise, accelerating its gains in recent days.
Another positive factor boosting the firm is its own rosy predictions.