Sigma Lithium Corporation SGML shares are trading higher on Monday. The price move marks a break in the stock's December selloff.
What To Know: Shares of Sigma Lithium reached a 52-week low on Nov. 10, at which point the stock began to break out of the downtrend.
Before the open of the market on Monday, Sigma Lithium provided an update on the final stage of its strategic review. The company said it has commenced contractual and detailed structural negotiations with finalists in the Strategic Review Process and that Sigma Brazil is beginning the procedures for a primary listing of its shares on the Nasdaq and Singapore Stock Exchange.
The stock's November rally was fueled early on by the company's third-quarter earnings report, released on Nov. 14. The company reported sales of $97.00 million and net income of $36.4 million, compared to a net loss of $18.8 million year-over-year.
Related Link: Obesity/Diabetes Drug Class GLP-1s' Cost-Saving Potential: Decoding Impact on Healthcare Spending
SGML Price Action: Shares of SGML were up 11.5% at $29.71 at the time of publication, according to Benzinga Pro.
Image by Paul Brennan from Pixabay
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
