Tianqi Lithium's stock soared 5.12% during intraday trading on Friday, reflecting strong positive momentum in the market.
The surge appears to be driven by news that global investment bank Morgan Stanley increased its holdings in Tianqi Lithium by approximately 358,914 shares on April 13. Following this transaction, Morgan Stanley's total stake rose to approximately 13.94 million shares, representing a 6.08% holding in the company.
Such an increase by a major institutional investor is generally viewed as a significant vote of confidence, which has supported positive market sentiment toward the stock. The current trading price shows a notable premium over Morgan Stanley's acquisition price, indicating the market's favorable response to this development.