Aqua Metals Inc (NASDAQ: AQMS)
Aqua Metals is having an incredibly strong day in the market today, and for good reason. It was announced that a large stake in the stock has been purchased. As a result, the stock started the day well into the green, and while it’s seen it’s ups and downs, it is still trading with impressive profits. Below, we’ll talk about what we’re seeing from AQMS, why, and what we’ll be watching for ahead.
What We’re Seeing From AQMS
As mentioned above, Aqua Metals is having a great trading session in the market today after an early morning announcement of a large share purchase. As a result, the stock was already trading on impressive gains when the opening bell rang. From there, it has seen ups and downs, but has held onto the profits, for the most part. At the moment (10:29), AQMS is trading at $14.29 per share after a gain of 25.21% thus far today.
Why The Stock Is Climbing
As is almost always the case, our partners at Trade Ideas were the first to inform us of the gains on AQMS. As soon as they did, the CNA Finance team started working to see what was causing the movement. In this particular case, it felt like it took no time at all, as the story jumped out at us. Ultimately, the gains seem to be the result of a large stake purchase announcement.
Early this morning, it was announced that a 5% stake in Aqua Metals has been purchased. The purchase was made by Johnson Controls. The ultimate goal of the purchase is for Johnson Controls to give a boost to its battery business. Of course, this is incredibly good news, as this type of purchase is usually a strong signal of growth ahead.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping an incredibly close eye on AQMS. In particular, we’ll be watching the relations with Johnson Controls and digging to get further details as to what this will result in. We’ll be watching the news closely and bringing it to you as it breaks!
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