Sigma Lithium Corp. (NASDAQ:SGML) is one of the 10 Stocks With Eye-Popping Gains.

Sigma Lithium climbed to a new two-year high on Monday, as investors loaded portfolios amid rosy prospects from the continued surge in demand for electric vehicles.

In intra-day trading, the stock climbed to its highest price of $17.58 before paring gains to finish the session just up by 17.10 percent at $17.39 apiece.

Photo from Sigma Lithium website

Since the start of the US and Israel’s war on Iran, online marketplaces have seen a surge in interest in electric vehicles, with buyers said to be on the lookout for other alternatives to mitigate risks from the spiking global crude oil prices.

Mobile.de, the largest vehicle marketplace in Germany, said the new and used car marketplace had seen an over 50 percent jump in EV inquiries in March compared to February.

Meanwhile, Carwow reported a 20 to 30 percent jump in EV inquiries in the UK, Spain, and Germany between February and March, with demand in the UK alone up 23 percent last month versus February.

The development spelled good news for Sigma Lithium Corp. (NASDAQ:SGML)—a Brazil-based maker of high-purity lithium concentrate for EVs—as more EV sales translate to stronger demand for its products.

In other news, Sigma Lithium Corp. (NASDAQ:SGML) earlier this month successfully raised $100 million in fresh funds from a collateralized bank guarantee.

The lithium maker said proceeds from the loan would support the construction and installation of its Greentech Industrial Plant 2, in line with goals to upsize its nameplate capacity to 520,000 tons from 270,000 tons.

Sigma Lithium Corp. (NASDAQ:SGML) said the guarantee will be collateralized by its clients through a blend of corporate guarantees, letters of credit, and export receivables to be mutually agreed upon amongst the parties.

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