Battery materials company Novonix Ltd [ASX:NVX] is continuing its strong momentum today.
Despite the stock somewhat selling off since its peak in early December, it has rebounded quite well. With the share price up 7.49% today after management announced it has filed the paperwork to apply for its dual listing on the NASDAQ.
A big step forward for this up-and-coming battery player. One that is clearly sitting well with investors.
So, let’s hone in on some of the details.
What does a dual listing mean for shareholders?
Naturally, with the stock likely to be listed in Australia and the US, it means people will have more ways to invest in Novonix. Opening up the potential for extra capital to help fund the company’s goals and objectives.
As a prospective supplier of synthetic graphite, this access to US capital could be invaluable. Particularly as competition and demand for exposure to the EV and battery boom is still in full swing.
However, the dual listing isn’t in the bag just yet.
The application will still have to pass scrutiny from the SEC and NASDAQ respectively. Both of which will need to agree to proceed for the dual listing to go ahead. And while it is hard to imagine they will take any issue with the process; it is still a possibility.
More importantly, as Novonix’s CEO Chris Burns comments, this could help cement them as a pioneer in North America:
‘We believe NOVONIX was the first qualified supplier of high-capacity long-life synthetic graphite anode material to a major cell maker and is the only supplier with plans to provide large volumes of this key material in the U.S. Our technological breakthroughs are helping to power the energy storage market, leading to better performance, longer life and lower costs,
‘This listing furthers our long-term goal of reshoring the EV supply chain in North America and becoming a leader in the electrification economy.’
That is certainly an enviable position to be in. And if Novonix can carve out a solid share in this emerging North American market, they could stand to benefit immensely.
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What’s next for Novonix?
Looking ahead, the focus now for investors will be waiting for a response to this application. Something that may take some time depending on the two parties.
Either way, though, it is an important step toward Novonix’s broader goals. One that should pay off in the long-term.
However, if you’ve missed the Novonix boom, then don’t worry. There are still plenty of other exciting ways to invest in the EV and battery frenzy that are dominating markets.
Lithium stocks, for example, are a prime pick. And while it can be daunting trying to learn about this very niche, but rapidly growing sector, the rewards can more than make up for it.
For the best place to start, check out our lithium stocks guide. A comprehensive report on what to look out for, and how to find the best potential stocks.
Get your free copy of this guide, right now, right here.
Regards,
Ryan Clarkson-Ledward,
For Money Morning
PS: Our publication Money Morning is a fantastic place to start on your investment journey. We talk about the big trends driving the most innovative stocks on the ASX. Learn all about it here
