We recently published 10 Stocks Stealing Wall Street’s Spotlight. Critical Metals Corp. (NASDAQ:CRML) is one of the best performers on Monday.
Critical Metals surged to a new all-time high on Monday, soaring 55.41 percent to finish at $23.28 apiece, as investor sentiment was bolstered by JPMorgan’s announcement of a $1.5 trillion investment program, which is expected to benefit the critical minerals industry, among others.
The stock surged to its highest 52-week price of $23.67 during the intra-day session before paring gains to end the day up by 55.41 percent at $23.28 apiece.
On Monday, JPMorgan said the total amount will cover a 10-year program, of which $10 billion will be allocated for financing and investments in industries critical to economic security and resiliency, including critical minerals, robotics, quantum computing, and artificial intelligence, among others. Of the amount, some $1 trillion has already been planned for allocation.
The rally for Critical Metals Corp. (NASDAQ:CRML) was supported by the US government’s aggressive plans to ramp up the expansion of critical minerals in the country and reduce reliance on imports.
Photo by Kumpan Electric on Unsplash
In recent developments, Critical Metals Corp. (NASDAQ:CRML) inked separate agreements with REalloys and Ucore Rare Metals, for the supply of 15 percent and 10 percent, respectively, of minerals produced from its Tanbreez project in Southern Greenland.
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Disclosure: None. This article is originally published at Insider Monkey.
