Lithium stocks have yet to bottom. And why is that?
Because the moment PLS/LTR starts to move higher, we saw that knee jerk FOMO buy-in thinking that they're not wanting to be left behind, as if the gravy train is still well and alive.
When it bottoms, nothing will move it (stock price), but a sense of disinterest and malaise is all you get. We clearly have not seen that.
Lithium has moved into winter hibernation, but market participants are still looking at it like a too cheap to miss stocks.
They're trading at a much higher valuation than their peers in the US. That's because we don't have much to choose from in the ASX or other more vibrant sectors to divert to. Makes people make bad decisions.
