Technical traders note lithium stock price forming an ascending triangle pattern, with $19.50 as the breakout target. Increased institutional orders in afternoon trading suggest anticipation of positive industry reports. The funds will go towards a joint venture project between Lithium Americas and General Motors called Thacker Pass. The site in Nevada is the largest known lithium deposit in the United States. Lithium is needed to produce lithium-ion batteries used in cell phones, laptops and electric vehicles. Weekly gain: 355.56 percent Market cap: C$128.18 million Share price: C$1.23 Lithium stock price is marginally down 0.6% at $17.88 after a strong start to the month. Long-term investors remain confident due to expanding gigafactory capacity in North America and Europe.