American Battery Metals Corporation (ABML) shares continue to fall: down 17% in one month
American Battery Metals Corporation (OTCMKTS: ABML) stock was in the midst of a strong sell-off last week and ended up posting declines of up to 12% during the week. There was no news from the lithium-ion battery recycling technology company last week, but many investors decided to head for the exits nonetheless.
However, earlier this month, the company praised the US Senate for passing the Infrastructure Investment and Jobs Act. The law in fact includes provisions to place considerable emphasis on investments in the green energy and electric vehicle sectors.
Such a move could prove to be of great benefit to American Battery Metals Corporation, and the company’s praise was perhaps not surprising. Doug Cole, who is the CEO of the company, also spoke about the development. He said US Senate legislation supports direct investment in the battery recycling technology space so that a local supply chain of critical materials can be built.
He added that if the legislation is actually passed by the House of Representatives, the company will be willing to support the move towards electric vehicles.