Shares of battery metals miner Sigma Lithium (NASDAQ: SGML) soared by more than 18% in pre-market trading on Tuesday after a Bloomberg report that EV major, Tesla (TSLA) could be interested in making a bid for the company.
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The report stated that SGML’s biggest investor, A10 Investimentos, which has a 46% stake in the company is exploring a potential sale. A10 Investimentos is a Brazilian private equity fund.
Tesla has reportedly talked to potential advisors regarding a bid but a decision has not been made so far.
Sigma Lithium currently has a market cap of C$4.19 billion and the stock has shot up by almost 200% in the past year.