Solidion Technology Inc.
(NASDAQ:STI) stock climbed in Monday's premarket session after the advanced battery materials company said it plans to purchase shares of Space Exploration Technologies Corp.
(NASDAQ:SPCX) as a long-term strategic treasury asset.
SpaceX Treasury Strategy The company said the initial allocation would represent a modest portion of its current cash position.
The investment would not affect operating priorities, planned capital expenditures, core operations, or its strategic plan.
