Why Arcadium Lithium Stock Exploded by 30% and Pulled Piedmont Lithium and Standard Lithium Higher Today

Well that was quick! Just five days ago, Arcadium Lithium (NYSE: ALTM) stock began an impressive run higher on rumors that British mining giant Rio Tinto Group might be interested in buying the company. (Or maybe buying Albemarle instead -- no one was 100% sure.) On Monday, the stock soared 36% more when Rio Tinto confirmed that Arcadium was its target.And now today, less than a week after the first rumors surfaced, the deal is done: Rio Tinto has agreed to acquire Arcadium Lithium -- and will pay $6.7 billion for the privilege.Arcadium Lithium stock is up 30.5% as of 10:10 a.m. ET today in response. Other lithium mining stocks are following Arcadium higher, with notable outperformers including Standard Lithium (NYSEMKT: SLI) and Piedmont Lithium (NASDAQ: PLL), up 11.5% and 18%, respectively. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool