Stardust Power Inc. (SDST)

In March 2026, Stardust Power reported a net loss and expressed doubt about its ability to continue as a going concern, leading to a stock price decline. In February 2026, the company secured financing and joined the Cornerstone Consortium. In January 2026, Stardust Power obtained a permit for its Muskogee refinery and hired a General Counsel. In April 2026, Stardust Power joined the Lithium Regional Innovation Cluster. The stock has experienced significant volatility, with a decline of 31.56% in the past month and a 62.87% decrease over the last 12 months.

There is no specific information indicating seasonality in the demand for Stardust Power's products and services. The demand for lithium is projected to experience continuous and significant growth, driven by the increasing demand for electric vehicles, renewable energy storage systems, and portable electronics.

Stardust Power, Inc. is focused on producing battery-grade lithium products for the EV and energy storage industries. Founded in 2022, it is developing a lithium refinery in Muskogee, Oklahoma, utilizing a "hub and spoke" model to source lithium brine feedstock. The refinery is expected to have a capacity of up to 50,000 metric tons per annum of battery-grade lithium hydroxide and lithium carbonate.

Stardust Power's primary geographic focus is the United States, with its headquarters in Greenwich, Connecticut, and its lithium refinery under development in Muskogee, Oklahoma. The Muskogee location was chosen for its central U.S. position, facilitating the delivery of lithium inputs and the shipment of battery-grade lithium carbonate.

Stardust Power has sought to raise its profile through media appearances, including features on "New to The Street." However, the company's reputation has faced challenges due to concerns about its financial stability and ability to fund its refinery project, as well as the loss of its "controlled company" status on Nasdaq.

As of April 9, 2026, Stardust Power Inc. has 19 institutional owners and shareholders holding a total of 443,697 shares, representing 32.79% of the company's stock. Major institutional owners include Vanguard Group Inc, UBS Group AG, and BlackRock, Inc. Key individual insider owners include Roshan Pujari, Chairman and CEO, owning 20,172,447 shares.