The market got carried away with itself at $4.50. It was being pumped left, right and centre. I like to call it the "Dot Com Lithium Bubble" - where prices are far removed from reality along with an expectation of eternal blue skies.
What's the turning point for GXY and lithium stocks? Lithium prices are still tumbling. GXY loves to tell the market about how much forecast demand there will be for lithium in the years to come and dedicates lots of slides in its presentations to it.. But leaves you in the dark about how much supply there will be to meet this forecast demand. It's what a company doesn't tell you that you need to be wary of. GXY didn't predict this time last year that lithium prices would be tumbling out of control in the next 12 months. So GXY don't exactly have their finger on the pulse.
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