Piedmont Lithium (PLL) Soars 24.62% on Merger News

Piedmont Lithium (PLL) surged 24.62% today, marking its fourth consecutive day of gains, with a total increase of 35.62% over the past four days. The share price reached its highest level since January 2025, with an intraday gain of 25.73%.

The most significant factor influencing Piedmont Lithium's stock price is the proposed merger with Sayona Mining. Recent updates reveal that the companies have made amendments to the merger agreement, including seeking Sayona shareholder approval for a 1-for-150 reverse stock split and an updated exchange ratio. This merger aims to create a new entity named Elevra Lithium, pending regulatory and shareholder approvals. The strategic consolidation and expansion in the lithium market are expected to have a notable impact on PLL's stock price.

In addition to the merger, Piedmont Lithium has secured $43 million in funding and received key regulatory clearances from both the US and Canada. These developments underscore the company's efforts to strengthen its market position and drive growth, further bolstering investor confidence in the stock.