Why Piedmont Lithium Stock Dropped Today

Rich Smith, The Motley Fool

4 March 2021 at 6:48 pm·2-min read

Why Piedmont Lithium Stock Dropped Today

Shares of Australian lithium mining company Piedmont Lithium (NASDAQ: PLL), which currently trades on the Nasdaq in the form of American Depositary Shares (ADS), representing common shares on the Australian Stock Exchange, are coming to America -- and it seems investors aren't happy about it. Piedmont stock dropped 19% in Thursday trading. Thursday probably should have been a good day for Piedmont shareholders, seeing as B. Riley Securities raised its price target on the stock from $66 to $93 a share this morning.

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