American Lithium (CVE:LI) Shares Up 23.2% - Here's What Happened

Key Points

• American Lithium Corp. (CVE:LI) saw its shares increase by 23.2% on Wednesday, trading as high as C$0.70, with a significant surge in trading volume of approximately 1.3 million shares.
• The company's stock has a market cap of C$178.68 million and reported a price-to-earnings ratio of -4.67, indicating potential financial challenges.
• Recently, Director Andrew William Bowering sold 2 million shares at an average price of C$0.30, totaling C$600,000, while insiders hold 9.58% of the company’s stock.

American Lithium Corp. (CVE:LI - )'s share price was up 23.2% on Wednesday . The stock traded as high as C$0.70 and last traded at C$0.69. Approximately 1,313,636 shares changed hands during mid-day trading, an increase of 541% from the average daily volume of 205,067 shares. The stock had previously closed at C$0.56.

American Lithium Stock Performance

The stock's 50-day simple moving average is C$0.44 and its 200-day simple moving average is C$0.39. The stock has a market cap of C$178.68 million, a price-to-earnings ratio of -4.67 and a beta of 1.85. The company has a current ratio of 4.22, a quick ratio of 1.45 and a debt-to-equity ratio of 0.06.

Insider Activity

In related news, Director Andrew William Bowering sold 2,000,000 shares of the stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of C$0.30, for a total transaction of C$600,000.00. Corporate insiders own 9.58% of the company's stock.

American Lithium Company Profile

American Lithium Corp., an exploration and development stage company, engages in the acquisition, exploration, and development of mineral properties in North and South America. Its properties include the TLC Lithium Project located in the town of Tonopah, Nevada; and the Falchani Lithium project and the Macusani Uranium project located in Puno, Peru.

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