LAC Stock Up 32% Over the Past Year But Share Dilution Is Quietly Piling Up

LAC Stock Up 32% Over the Past Year But Share Dilution Is Quietly Piling Up

Quick Read Lithium Americas (LAC) is spending $1.3B to $1.6B on 2026 capital expenditures at its Thacker Pass project with a $2.23B DOE loan facility and 38% General Motors joint venture backing the development. The company faces dilution pressure from 100.7 million shares sold in 2025-2026 and net losses of $86.3M in 2025, with -$0.9725 EPS expected for 2026. MP Materials and other domestic mineral producers are viewed as national security hed…