American Battery Technology Stock Surges Thursday: What's Happening?

American Battery Technology Co (NASDAQ: ABAT) shares surged 17.19% to $2.59 during premarket trading on Thursday after the company received federal regulatory approval to export up to $100 million of recycled battery material. The approval from the Department of Commerce allows the sale of black mass, which contains critical minerals such as lithium and cobalt, enhancing the company's access to international supply chains. CEO Ryan Melsert highlighted the support from the U.S. government and the company's ongoing expansion efforts, including a second recycling facility backed by $150 million in grants from the Department of Energy.