the fall has been down to numerous factors
1- it got too high in the first place
2- cobalt price collapsed
3- reality of actually having to engineer, finance and build kicked in
4- EV market hasnt grown quite as fast as hoped past 2 years
5- it got shorted
6- its now probably oversold
probably reasons too feel free to add
add all that up and you have a huge fall in sp.
yes i think the only thing that will cause a rerate is securing finance. So current holders are gambling that occurs
Comments from the CDO of CLQ, page-62
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