About 13 months ago Tesla (TSLA)'s Co-Founder and CTO JB Straubel resigned from the company to focus exclusively on a new start-up company that he launched in 2017 called Redwood Materials. His start-up Redwood Materials is focused on developing EV Battery Recycling technology. Nobody knows exactly what they have or if their technology is any good or not... but there is speculation growing that Redwood is planning to go public in 2021. Considering that TSLA is now worth $373 billion we expect Redwood to easily trade with a market cap of tens of billions whether it deserves it or not.
If this occurred it would be big for American Manganese (TSXV: AMY). Right now, AMY's U.S. symbol AMYZF has a USD market cap of less than USD$33 million when it has established itself as one of the leading publicly traded companies that is focused on the EV battery recycling space. AMY's market cap is low because nobody is currently searching for EV battery recycling stocks. By Redwood Materials going public next year either through an IPO or a SPAC and trading at a HUGE valuation based on projected exponential growth in spent EV batteries needing recycling... the EV battery recycling space will suddenly have a major industry bellwether to compare AMY's valuation to.
If you do a Google search for EV battery recycling stock AMY is the #3 result!
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