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Stardust Power Inc. (NASDAQ:SDST) shares saw a significant increase on Wednesday. Here’s what you need to know.
What To Know: The company began trading on the Nasdaq Global Market on July 9 under the ticker symbol “SDST” following the closing of business combination with Global Partner Acquisition Corp II (GPAC II).
\Stardust Power, an American manufacturer of battery-grade lithium products, is focused on developing a lithium refinery in Muskogee Oklahoma, with an anticipated capacity of 50,000 tonnes per annum by 2030.
CEO Roshan Pujari highlighted the company’s importance in bolstering U.S. lithium production, aligning with national security priorities and tapping into significant state and federal incentives.
For Stardust Power, which is trading at $23.98 as of publishing time, $100 would buy you 4.17 shares of stock.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.
SDST Price Action: Stardust shares were up by 148% at the time of writing, according to Benzinga pro.
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Posted In: SDST
