Snow Lake Resources Ltd (LITM): Snow Lake Resources pops 145% intraday a...

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Snow Lake Resources Ltd (LITM)

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Saturday, 11/20/2021 6:26:39 PM

Saturday, November 20, 2021 6:26:39 PM

Snow Lake Resources pops 145% intraday after IPO even though lithium startup has scant revenue

The rally pushed LITM’s non-diluted valuation up from about $120M at IPO to around $208M, although that still makes the stock relatively small and open to big price swings.

Snow Lake’s IPO priced at the top of its expected $6.50-$7.50/share range. The company also sold 3.2M shares through its IPO, up from the roughly 2.9M it had originally offered. Additionally, LITM boosted underwriters’ overallotment options to 480,000 shares from the roughly 428,600 initially planned.

https://seekingalpha.com/news/3773011-snow-lake-resources-stock-price-soars-after-ipo

If THEIR IS ONE THING I AM SURE ABOUT IS I AM USUALLY WRONG

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