It makes me genuinely sad to read your comments. Im sorry to hear about your losses
When investing in single commodity companies you need to pay close attention to whats happening in the space
The price of Lithium has been falling daily / in a downtrend for a very long time now. It's important to pay attention to trends
You can keep track of the chinese lithium futures here http://www.gfex.com.cn/gfex/tsl/sspz.shtml
SMM spot price here https://www.metal.com/Lithium
Also see Platts commentary, and maybe stay tuned with new broker / analyst reports about lithium
The price of all lithium stocks have been going down. Some at their 52w lows and some making new 52w lows.
This includes the big chinese lithium stocks (Tianqi and Ganfeng). The big US listed ones are also doing just as bad (ALB and SQM).
Some have been falling more than others for various reasons, but ultimately, the sector is in the toilet
The good news is this is probably / potentially around the bottom. The bad news is it might need a fair bit of time before we see an upwards movement in lithium prices (although we're all just guessing and things can change really quickly). Most analysts expect lithium prices to increase in a few years. But their forecasts are always changing so best to keep paying attention
Take it as a learning experience
Sometimes when I'm in a bit of a pickle and I spot a new opportunity I find that it works out better to switch into that new opportunity, rather than sit and wait (opportunity cost). Im not saying i would recommend to sell, im saying to keep motivated and keep your eyes open for any new opportunities that may arise. But becareful, you dont want to flip flop around and potentially lose more money
Best of luck to you
PMT Price at posting:
51.0¢ Sentiment: None Disclosure: Not Held
(20min delay)