Lithium Americas Corp. shares soared to the highest price since April 2024 on Wednesday after reports the Trump administration is pursuing a stake in the company.

The White House proposed taking equity in the Canadian lithium company during a renegotiation of the terms of a $2.3 billion loan extended by the Energy Department, Bloomberg News reported Tuesday. That followed an earlier Reuters report that the administration was seeking a stake of as much as 10%.

Lithium Americas share price doubled in New York, hitting a high of $6.21 as of 10:38 a.m. in New York, marking its biggest intraday increase since mid-April 2024. Other lithium producers including Albemarle Corp. and Sigma Lithium Corp. also climbed. A 10% stake in the Vancouver-based company would be worth around $150 million, bas

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