Stardust Power Inc. (SDST)

The company's stock price experienced a substantial decline of approximately 89.52% between January 8, 2025, and January 7, 2026. Over the last 12 months, the stock price decreased by 88.79%. In January 2026, Stardust Power engaged 38 North Solutions to support federal government relations. In December 2025, the company secured financing to advance its Oklahoma lithium refinery toward construction and received an independent review of the Muskogee Lithium Refinery and secured up to $15.0 million in senior secured convertible debt. In November 2025, Stardust Power announced its Q3 2025 financial results, reporting a net loss of $4.5 million and strengthened its U.S. lithium supply chain with a non-binding Letter of Intent with Mandrake Resources. In October 2025, the company secured a strategic North American lithium supply with Prairie Lithium and completed its Front End Loading 3 (FEL 3) report. In July 2024, Stardust Power began trading on Nasdaq after a SPAC merger.

There is no specific information available regarding the demand seasonality for Stardust Power, Inc.'s products and services. The overall demand for lithium-ion batteries is projected to grow significantly, driven by the increasing adoption of EVs, energy-storage systems, and portable electronics. This indicates a strong and continuous underlying market demand rather than a seasonal one for the raw material itself.

Stardust Power, Inc. is an American development-stage company focused on producing battery-grade lithium products to support the electric vehicle (EV) industry and bolster U.S. energy security. The company operates within the Industrials sector, specifically in the Electrical Equipment & Parts and Major Chemicals/Specialty Chemicals industries. Its primary product is battery-grade lithium carbonate, which it plans to produce from a refinery under development in Muskogee, Oklahoma. The company's business model involves developing a large central refinery optimized for multiple sources of lithium brine input to aggregate supply and scale manufacturing efficiently. Stardust Power's operations are segmented into Upstream, Midstream, and Downstream.

Headquartered in Greenwich, Connecticut, Stardust Power's key operational focus is the development of its lithium refinery in Muskogee, Oklahoma. This facility is designed to process lithium from diverse American brine sources. The company has also secured non-binding agreements for lithium chloride feedstock from Mandrake's Utah Lithium Project and Prairie Lithium in North America.

Stardust Power's brand reputation has been positively influenced by strategic developments and its commitment to a sustainable, domestic lithium supply chain. Securing financing demonstrates investor confidence. Agreements with Mandrake Resources and Prairie Lithium have been highlighted as crucial steps in establishing a U.S.-based supply chain. Progress on the Muskogee, Oklahoma refinery has reinforced the company's commitment and operational capabilities. Engaging 38 North Solutions indicates a proactive approach to aligning with national policy objectives for critical minerals. The company emphasizes sustainability at each point in its process.

Stardust Power Inc. has 19 institutional owners and shareholders holding a total of 214,150 shares. Major institutional owners include Vanguard Group Inc, UBS Group AG, Geode Capital Management, Llc, BancFirst Trust & Investment Management, and BlackRock, Inc. Luminus Management LLC is noted as a primary institutional investor. Key individual insider owners include Roshan Pujari, Mark Andrew Rankin, Anupam Agarwal, Pablo Cortegoso, and Chris Edward Celano. Insiders collectively hold a significant portion of the company's stock, with Roshan Pujari being the largest individual shareholder.