Lithium Americas Corp. ($LAC) Stock: Soars Over 70% Pre-Market as Trump Eyes 10% Stake in Miner

TLDR

• LAC stock rose 70% pre-market to $5.23 on September 23 after closing at $3.07 the previous day.
• Trump administration reportedly seeks up to a 10% stake in Lithium Americas.
• Discussions linked to renegotiating a $2.26 billion DOE loan for the Thacker Pass project.
• GM owns 38% of the project and has long-term lithium offtake rights.
• Analysts see government backing as a boost but warn of valuation risks.

Lithium Americas Corp. (NYSE: LAC) closed at $3.07 on September 23, 2025, down 6.97% before soaring 70.64% pre-market to $5.23.

Lithium Americas Corp. (NYSE: LAC)

The surge came after Reuters reported that the Trump administration is seeking to take an equity stake of as much as 10% in the miner. The move follows a series of government interventions in strategic sectors, including stakes in Intel and MP Materials.

Thacker Pass Project at the Center

At the core of the discussions is Lithium Americas’ $2.26 billion Energy Department loan for its Thacker Pass lithium project. Located in Nevada, Thacker Pass is a joint venture with General Motors (GM), which has invested $625 million for a 38% stake. GM holds rights to purchase all lithium from the mine’s first phase and a portion from the second phase over 20 years. The mine is expected to begin production in 2028, serving as a critical supply chain pillar for U.S. electric vehicle batteries.

Trump’s Strategic Stakes in Key Sectors

The Trump administration has increasingly favored equity stakes to strengthen U.S. control over strategic resources. Intel stock surged 20% after Washington announced a government investment, while MP Materials jumped 50% when the Department of Defense took a 15% stake and secured a decade-long contract for rare earth supplies. Analysts suggest that Lithium Americas could benefit from similar credibility and long-term financing support.

Analyst Reactions to the Rally

Despite the stock’s sharp rise, some analysts urged caution. JPMorgan called the rally “overblown,” arguing that it remains difficult to assess fair value without clarity on potential revised offtake agreements. Jefferies lowered its price target for LAC from $8 to $7 but kept a buy rating, citing the longer-term strategic importance of the project. TD Cowen analysts noted that a government stake could enhance project economics by signaling strong political support.

Market and Peer Impact

The news lifted broader lithium and EV-related stocks. General Motors rose 2.5% pre-market, approaching a technical breakout, while Albemarle gained over 4%. Analysts at Morningstar added that a U.S. stake in Lithium Americas could include offtake price guarantees, ensuring profitability even in a low-price environment for lithium.

Conclusion

Lithium Americas’ pre-market surge reflects investor enthusiasm over possible U.S. government backing, which could de-risk the Thacker Pass project and strengthen America’s EV supply chain. However, uncertainties around revised loan terms, potential offtake agreements, and long-term lithium demand leave open questions about whether the rally can be sustained.

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