The share price of Westwater Resources Inc. (WWR) stock went up significantly on Tuesday, March 9, 2021, and it keeps its momentum in the pre-market session on Wednesday as of this writing. At the moment it has increased by9.89% in value.
The reason behind the spike in stock price is the early announcement made by the company that they are going to change their listing from Nasdaq Capital Market to the NYSE American stock exchange effective March 19, 2021.
On this important announcement President and Chief Executive Officer of Westwater, Christopher M. Jones said that the NYSE has been trading stocks for over 225 years and NYSE is the global leader in listings. He further said that as their company is growing, they want to see their shareholders getting more benefit from the most important platform in the trading business.
Westwater will be using the same trading symbol WWR at NYSE and it is expected that March 18 will be the last trading day for the company on Nasdaq.
Earlier on March 1 2021, the company welcome the President’s Executive Order which he signed on February 24, 2021, stating to provide more strong chains to revive the domestic manufacturing capacity and maintain America’s competitive edge in research and development.
The president’s executive order asked the Secretary of Energy, as part of a larger study involving several branches of the U.S. government, to submit a report within 100 days identifying risks to the supply chain for high-capacity batteries including those that power electric vehicles. The report will also be very important for Westwater’s plans to develop its battery graphite business in the United States as the U.S is heavily depended on China for graphite import.
About the company:
Westwater is a battery graphite development company, focused on developing an advanced battery graphite business in the state of Alabama as more and more people looking to buy electric cars, minerals such as graphite play important roles in their energy future. the Company’s projects include the Coosa Graphite Project which is the biggest reserve of graphite in the United States.
Christopher M Jones is the president and CEO of the company. He joined the company in April 2013 and has more than 30 years of experience in the energy sector. He has worked at different corporate levels around the globe in reputable energy companies.